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Business News/ Markets / Ipo/  Madhusudan Masala share price opens at 71.43% premium at 120 on NSE SME
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Madhusudan Masala share price opens at 71.43% premium at ₹120 on NSE SME

Madhusudan Masala share price listed on NSE SME at a premium of 71.43% higher than the issue price.

Madhusudan Masala shares list on NSE SME today. (
Madhusudan Masala shares list on NSE SME today. (

Madhusudan Masala listing date: Madhusudan Masala share price listed on NSE SME at a premium on Tuesday.On NSE SME, Madhusudan Masala share price today was listed at 120 per share, 71.43% higher than the issue price of 70.

Madhusudan Masala IPO opened for subscription on Monday, September 18, and closed on Thursday, September 21. On day 3, Madhusudan Masala IPO subscription status was 444.27 times, with retail portion subscribed 592.73 times, as per data available at

Madhusudan IPO price band was set in the range of 66 to 70 per equity share of face value of 10 each. Madhusudan Masala IPO lot size was 2,000 equity shares and in multiples of 2,000 equity shares thereafter.

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Madhusudan Masala IPO details

Madhusudan Masala IPO, which is worth 23.80 crores, is completely a fresh issue of 3,400,000 equity share; there is no offer for sale (OFS) component.

The company plans to use the net proceeds from the offering to meet its working capital requirements, and general corporate purposes.

Hem Securities Limited is the book running lead manager of the Madhusudan Masala IPO, while Kfin Technologies Limited is the registrar for the issue. The market maker for Madhusudan Masala IPO is Hem Finlease.

Also Read: Updater Services IPO Day 2: GMP, review, other key details. Should you subscribe?

Madhusudan Masala recorded a net profit of Rs. 575.89 lakh with revenue of Rs. 12,750.57 lakh for the fiscal year ended on March 31, 2023. In FY23, it had an EBITDA margin of 8.66% and a profit margin of 4.53%.

Dayalji Vanravan Kotecha, Vijaykumar Vanravan Kotecha, Rishit Dayalaji Kotecha, and Hiren Vijaykumar Kotecha are promoters of the company.

Also Read: Manoj Vaibhav IPO: Bidding ends today. GMP, subscription status, apply or not?

Madhusudan Masala IPO GMP today

Madhusudan IPO GMP today or grey market premium is +61 similar to the previous two trading session. This indicates Madhusudan Masala share price were trading at a premium of 61 in the grey market on Tuesday, according to

Also Read: Cellecor Gadgets IPO allotment finalised; Check latest GMP, here's how to check allotment status

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Madhusudan Masala share price is 131 apiece, which is 87.14% higher than the IPO price of 70.

The lowest GMP is 20, while the highest GMP is 61, according to

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: Madhusudan Masala IPO: Latest GMP, subscription status on day 1, other key details to know

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Published: 26 Sep 2023, 10:00 AM IST
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