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Madhusudan Masala: IPO, Share Price and Results Since Listing
Madhusudan Masala listed on NSE Emerge on 26 September 2023 after an IPO at INR 70 a share. On 11 November 2026 the shares closed at INR 269.20, 284.57% above the issue price. For H1 FY2027 it reported revenue of INR 195.95 crore (+65.75% on a year earlier) and a profit after tax of INR 12.92 crore.
Key Facts
- IPO dates
- 18 September 2023 to 21 September 2023
- Issue price
- INR 70
- Issue size
- INR 23.80 crore
- Subscription
- 412.94 times
- Lead manager
- Hem Securities Limited
- Listing day
- opened at INR 120 (+71.43%), closed at INR 114 (+62.86%)
- Listed on NSE Emerge
- 26 September 2023
- Symbol
- MADHUSUDAN
- Latest close
- INR 269.20 on 11 November 2026
- Against issue price
- +284.57%
- Lot size now
- 500 shares (INR 1,34,600 at the latest close)
Results Filed With NSE
Consolidated figures, INR crore. Change compares with the same period a year earlier.
| Period | Revenue | Change | Profit after tax | EPS (INR) | Filed | |
|---|---|---|---|---|---|---|
| H1 FY2027 | 195.95 | +65.75% | 12.92 | 8.19 | after listing | 31 October 2026 |
| Q1 FY2027 | 98.28 | +34.47% | 6.50 | 4.22 | after listing | 18 July 2026 |
| H2 FY2026 | 173.50 | +32.05% | 10.84 | 7.49 | after listing | 25 May 2026 |
| FY2026 | 291.71 | +26.30% | 18.50 | 12.78 | after listing | 25 May 2026 |
| Q3 FY2026 | 76.32 | – | 4.70 | 3.25 | after listing | 19 January 2026 |
| H1 FY2026 | 118.22 | – | 7.66 | 5.29 | after listing | 5 February 2026 |
| Q2 FY2026 | 45.13 | – | 3.49 | 2.41 | after listing | 13 November 2025 |
| Q1 FY2026 | 73.09 | – | 4.17 | 2.88 | after listing | 28 July 2025 |
| H2 FY2025 | 131.39 | – | 8.49 | 5.94 | after listing | 22 May 2025 |
| FY2025 | 230.97 | – | 15.02 | 10.93 | after listing | 22 May 2025 |
Promoter Holding
Promoter holding has moved from 73.64% on 21 September 2023 to 70.44% on 30 September 2026 (-3.20 percentage points).
| As of | Promoters | Public |
|---|---|---|
| 30 September 2026 | 70.44% | 29.56% |
| 13 June 2026 | 70.47% | 29.53% |
| 31 March 2026 | 69.53% | 30.47% |
| 27 March 2026 | 69.53% | 30.47% |
| 30 September 2025 | 68.09% | 31.91% |
| 31 March 2025 | 68.09% | 31.91% |
| 30 September 2024 | 66.93% | 33.07% |
| 7 September 2024 | 66.93% | 33.07% |
| 31 March 2024 | 73.69% | 26.31% |
| 30 September 2023 | 73.64% | 26.36% |
| 21 September 2023 | 73.64% | 26.29% |
Anchor Lock-ins
| Lock-in | Ends |
|---|---|
| 30 days | 23 October 2023 |
| 90 days | 22 December 2023 |
Sources: NSE Emerge filings (results XBRL, shareholding pattern, board meetings), NSE daily price files, and IPO records. Prices are not adjusted for bonus issues or splits.