Manoj Ceramic (MCPL) IPO Shares Trade at rs. 82, Surges with 32% Premium!| Latest News

Manoj Ceramic marked a successful entry into the stock market on January 3, as its shares were listed at ₹82 apiece on the BSE SME, reflecting a robust 32.26% premium over the issue price of ₹62 per share. The IPO, which saw active participation from investors, garnered significant attention during its bidding phase from December 27 to December 29, 2023. The public issue, comprising a fresh offering of 23.34 lakh equity shares at a fixed price, witnessed a total subscription of 9 times, with the retail category oversubscribed by 10.73 times and the Other category by 7.28 times.

Managed by Swaraj Shares and Securities Pvt Ltd as the book-running lead manager, and Purva Sharegistry India Pvt Ltd as the IPO registrar, Manoj Ceramic plans to utilize the raised capital of ₹14.47 crore to address working capital needs and general corporate requirements. Established in 1991, the company specializes in ceramic tiles and tile adhesives, trading under the brand name "MCPL." Although it does not produce tiles directly, Manoj Ceramic collaborates with third-party manufacturers, distinguishing itself with a product portfolio comprising Ceramic Tiles and Tile Adhesive.