Madhusudan Masala IPO: IPO at Rs 70 will give a profit of Rs 60 on day 1 at 27 times the bet

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The IPO of Madhusudan Masala, a company that sells spices under the ‘Double Hathi’ and ‘Maharaja’ brands, has received an overwhelming response on the first day. People are investing heavily in Madhusudan Masala IPO. The company’s IPO was subscribed more than 27 times on the first day itself. The gray market is also bullish on the company’s IPO. Shares of Madhusudan Masala are currently trading at a premium of over 85 percent in the gray market.

The share’s GMP reached Rs.60
The price band of Madhusudan Masala IPO is Rs. 66-70 are. At the same time, the company’s shares are trading at a premium of Rs 60 in the gray market. If shares of Madhusudan Masala Rs. If allocated at the upper price band of 70, the shares of the company will be Rs. 130 can be listed. That is, investors can get 86% profit on listing itself. Shares of the company can be listed on the exchange on Tuesday, October 3.

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The IPO has been subscribed more than 27 times
Madhusudan Masala IPO has been subscribed a total of 27.75 times on the first day. The retail quota of the company’s IPO was subscribed 47.23 times on the first day. At the same time, Qualified Institutional Buyers (QIB) quota has been subscribed 0.80 times. While non-institutional investors (NII) quota has been subscribed 18.26 times. The company’s IPO will be open for subscription till September 21, Thursday. At the same time, the allotment of shares in the IPO will be finalized on September 26. Retail investors can bid for 1 lot in a company’s IPO. There are 2000 shares in one lot of IPO. That means retail investors have to invest at least Rs 140,000.

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What does the company do?
Madhusudan Masala Limited manufactures 32 different types of spices under the Double Elephant and Maharaja brands. Apart from this, the company sells tea, papad, soy products, hing, pickled spices, black salt powder, rock salt powder, Kasuri fenugreek.

Disclaimer: Information about stock performance is provided here only, not investment advice. Investment in stock market is subject to risk and please consult your advisor before investing.

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