IPO : MCON Rasayan India Limited

Incorporated in 2016, MCON Rasayan India Limited is in the business of manufacturing, marketing, and selling of modern building materials and construction chemicals. The company has a suite of more than 80 products including a range of construction materials and construction chemicals in both powder and liquid forms.

Powder products of the company are Ready mix plaster, Tile adhesives, Block adhesives, Wall putty, Micro concrete & polymer mortar, Engineering non-shrink grouts and Floor hardeners.

Liquid Form products include:Poly-urethane (PU) based liquid membrane, Bonding agents, Paints, Anti-corrosive coatings, Concrete admixtures and Curing compounds.

The products of MCON Rasayan India Limited are marketed under the brand label “MCON”.

The company has two manufacturing plants in Valsad and Navsari, Gujarat. The plant at GIDC Sarigam, Valsad, Gujarat mainly engages in the manufacturing of admixtures, wall putty, tile adhesives, paints, concrete repair systems, and waterproofing systems and has an installed capacity of 2,500 MTPA. And the plant in Navsari, Gujarat manufactures readymix mortars, block adhesives, and tile adhesives and has an installed capacity of 12,500 MTPA.

The top 10 products of MCON are as under MCON Magic Coat WP, MCON Magic Coat PU White, MCON Mortar/NSA Grey, MCON Micro Mortar, MCON Polymer Mortar EP, MCON Block Fix /Block Mortar, MCON Readyplaster, MCON Ultra Gyp Bond, MCON Wall Putty, and MCON Hard/Top Floor Metallic.

Objects of the Issue

The Company proposes to utilize the funds towards the following objects:

  1. Funding the working capital requirements of the company
  2. General Corporate Purposes

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