Manoj Ceramic Limited IPO (MCPL IPO) Detail | Latest News

Manoj Ceramic Limited, a company specializing in ceramic tiles and tile adhesives under the proprietary brand 'MCPL,' is gearing up to launch its initial public offering (IPO) with the aim of raising more than ₹14.47 crore. The subscription window for the public offer is scheduled to open on December 27 and will conclude on December 29.

The company has set the price band at ₹62 per share for the entirely fresh issue of 23.34 lakh shares. The minimum lot size for an application stands at 2000 shares, requiring a minimum investment of ₹124,000 for retail investors and ₹248,000 for High Net Worth Individuals (HNI) with a minimum lot size investment of 2 lots (4,000 shares).

The allotment for the MCPL IPO is anticipated to be finalized on Monday, January 1, 2024. The listing is planned on BSE SME, with a tentative listing date set for Wednesday, January 3, 2024.

Established in 1991, the company's product portfolio encompasses ceramic tiles and tile adhesives, with a distribution network spanning the western and southern regions of India, particularly in Maharashtra, Goa, Tamil Nadu, and Karnataka.

Manoj Ceramic Limited reported a noteworthy increase of 66.54% in revenue and a substantial rise of 283.52% in profit after tax (PAT) between the financial years ending March 31, 2023, and March 31, 2022.

The funds generated from the IPO will be utilized to address working capital expenses and general corporate purposes. Notably, the company has successfully exported its Ceramic Tiles to Vancouver, Canada, and London, UK, during the fiscal year 2022-2023, prompting the establishment of a subsidiary in London, UK, in response to growing demand.