The invention relates to a process for the synthesis of spheroidal magnesium alkoxide having improved mechanical strength and narrow particle size distribution, the process comprising reacting magnesium metal, in the presence of iodine, with a mixture of alcohols by step-wise heating first in the range of 40° C. to 65° C. for a period of 2 hours and then in the range of 65° C. to 80° C. for a period of 1 hour, further by maintaining reaction temperature at 80° C. for a period of 6-10 hours, the vapors of the mixture produced during the reaction being condensed in an overhead condenser, hydrogen gas produced during the reaction being vented off and the mixture of alcohols left after the reaction being filtered and reused. The invention also relates to spheroidal magnesium alkoxide particles synthesized by the method, to the Ziegler natta procatalyst synthesized by using the alkoxide and to the polymer resin synthesized using the procatalyst.