Mahickra Chemicals Limited (MCL) is a company who is engaged in the business of manufacturing and trading of Reactive Dyes. It’s a Gujarat based company. Their products cater to the textiles and garments manufacturers. MCL is coming up with the new issue very soon. Starting from 16th April their process of getting listed on the primary markets will start. We peeped into the draft red herring prospectus of MCL for presenting the Mahickra Chemicals Limited IPO Review for our readers.
About Mahickra Chemicals Limited IPO :
- IPO Opens on – April 16, 2018.
- IPO Closes on – April 18, 2018.
- Face Value – Rs. 10 Per Equity Share.
- Issue Price – Rs. 24 – Rs. 25 Per Equity Share.
- Issue Type – Book Built Issue IPO.
- Market Lot – 6000 Shares.
- Minimum Order Quantity – 6000 Shares.
- Issue Size – 2,100,000 Equity Shares of Rs 10 aggregating up to Rs 5.25 Cr.
- Listing Exchange – NSE SME Exchange.
- Draft Prospectus – Click Here.
Objectives of the issue:
- Funding the working capital requirements of the company.
- General Corporate Purposes.
About The Company –
- Mahickra Chemicals Limited is incorporated in 1994.
- This company manufactures 40 various types of Reactive Dyes.
- Mahickra Chemicals Limited is also offers specialty performance chemicals to the Textile Dyeing and printing industry.
- This company has a production capacity of approx 900 tons per annum.
- Mahickra Chemicals Limited is manufacturing facility of the company is situated at Vatva GIDC in Gujarat.
- This company’s facility is spread over 2 storeyed 700 sq. meters in area.
- Mahickra Chemicals Limited is an ISO 9001:2015, ISO 14001:2015 and GOTS certified company.
- This company had 18 employees on its payroll.
Promoters of the company :
- Miteshkumar Champaklal Gandhi, aged 46 years, is the Promoter, Chairman and Managing Director of this company.
- Ashishkumar Champaklal Gandhi, aged 45 years, is the Promoter and Whole Time Director of this company.
- Komal Mitesh Gandhi, aged 45 years, is the Promoter and Whole Time Director of this company.
Mahickra Chemicals Limited IPO Review: Irregular financial data is the main snapshot received from the DRHP. The current earnings per share are at 1.07 and the PE ratio is at 23.36. Considering the ups and downs in financials and still maintaining an EPS over 1 makes our Mahickra Chemicals Limited IPO Review to have a NEUTRAL rating on this new issue. Risk takers can, however, invest in MCL issue at their own risk.