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Magenta Lifecare IPO is a fixed price issue of ₹7.00 crores. The issue is entirely a fresh issue of 0.20 crore shares of ₹7.00 crore.
Magenta Lifecare IPO bidding started from Jun 5, 2024 and ended on Jun 7, 2024. The allotment for Magenta Lifecare IPO was finalized on Jun 10, 2024. The shares got listed on BSE SME on Jun 12, 2024.
Magenta Lifecare IPO price is ₹35.00 per share . The lot size for an application is 4,000. The minimum amount of investment required by an individual investor (retail) is ₹1,40,000 (4000 shares). The minimum lot size investment for HNI is 2 lots (8,000 shares), amounting to ₹2,80,000.
Fedex Securities Pvt.Ltd. is the book running lead manager and Cameo Corporate Services Ltd. is the registrar of the issue. The market maker of the company is Sunflower Broking Pvt.Ltd..
Refer to Magenta Lifecare IPO RHP for detailed Information.
| IPO Date | June 5, 2024 to June 7, 2024 |
| Listing Date | June 12, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹35 per share |
| Lot Size | 4,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 20,00,000 shares (aggregating up to ₹7.00 Cr) |
| Reserved for Market Maker | 1,04,000 shares Sunflower Broking Pvt.Ltd. (aggregating up to ₹0.3640 Cr) |
| Net Offered to Public | 18,96,000 shares (aggregating up to ₹6.64 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 48,69,936 shares |
| Share Holding Post Issue | 68,69,936 shares |
Magenta Lifecare IPO offers total 20,00,000 shares. Out of which 9,48,000 (47.40%) allocated to NII, 9,48,000 (47.40%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,04,000 (5.20%) |
| NII (HNI) Shares Offered | 9,48,000 (47.40%) |
| Retail Shares Offered | 9,48,000 (47.40%) |
| Total Shares Offered | 20,00,000 (100.00%) |
Magenta Lifecare IPO opens on June 5, 2024, and closes on June 7, 2024.
| IPO Open Date | Wed, Jun 5, 2024 |
| IPO Close Date | Fri, Jun 7, 2024 |
| Tentative Allotment | Mon, Jun 10, 2024 |
| Initiation of Refunds | Tue, Jun 11, 2024 |
| Credit of Shares to Demat | Tue, Jun 11, 2024 |
| Tentative Listing Date | Wed, Jun 12, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Jun 7, 2024 |
Investors can bid for a minimum of 4,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 4,000 | ₹1,40,000 |
| Retail (Max) | 1 | 4,000 | ₹1,40,000 |
| HNI (Min) | 2 | 8,000 | ₹2,80,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 2015, Magenta Lifecare Limited manufactures mattresses and pillows. The company offers foam-based products under the brand "Magenta" in India.
Magenta Lifecare's product portfolio includes memory foam, latex-based, bonded mattresses, pocketed springs etc. and pillows such as memory foam pillows, moulded memory foam pillows, moulded contour foam pillows etc.
Magenta Lifecare Limited's manufacturing facility is located in Gujarat, India. The installed capacity for manufacturing mattresses is currently at 60,000 Nos. and 70,000 nos. of pillows.
As of May 2024, the company's overall staff strength is 41 employees. The products the company offers to the customers are spread across retail, hotels and institutions.
Competitive Strengths:
Magenta Lifecare Limited's revenue increased by 1.79% and profit after tax (PAT) rose by 29.96% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 1,505.71 | 1,250.93 | 1,415.60 | 1,459.78 |
| Total Income | 630.74 | 955.29 | 938.47 | 966.14 |
| Profit After Tax | 24.36 | 24.55 | 18.89 | 19.44 |
| Net Worth | 634.18 | 520.81 | 361.73 | 142.85 |
| Reserves and Surplus | 147.19 | 366.57 | 219.72 | 20.84 |
| Total Borrowing | 447.83 | 453.01 | 757.53 | 982.73 |
| Amount in ₹ Lakhs | ||||
The market capitalization of Magenta Lifecare IPO is ₹24.04 Cr.
KPI as of Sun, Dec 31, 2023.
| KPI | Values |
|---|---|
| ROE | 5.62% |
| ROCE | 13.41% |
| RoNW | 3.84% |
| PAT Margin | 4.05% |
| Price to Book Value | 2.68 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 0.50 | 0.47 |
| P/E (x) | 69.43 | 74.03 |
The company proposes to utilize the Net Proceeds from the Issue towards the following objects:
1. Funding our working capital requirements; and
2. General corporate purposes
[Dilip Davda] The company is operating in a highly competitive and fragmented segment. With its asset light model and cost management, the company is confident of maintaining and improving its performance as indicated by last 21 months working. Based on FY24 annualized earnings, the issue appears aggressively priced. Small equity post-IPO indicates longer gestation for migration. Well-informed/cash surplus investors may park funds for the long term rewards. Read detail review...
| Listing Date | June 12, 2024 |
| BSE Script Code | 544188 |
| NSE Symbol | |
| ISIN | INE0QZ901011 |
| Final Issue Price | ₹35 per share |
| BSE Listing Group | MT |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹35.00 |
| Open | ₹45.00 |
| Low | ₹45.00 |
| High | ₹47.25 |
| Last Trade | ₹47.25 |
Magenta Lifecare Ltd.
N P Patel Estate,
A & T Padamla,
Vadodara, Gujarat, 391350
Phone: +91 7573022234
Email: info@magentalifecare.com
Website: https://www.magentamattresses.com/
Cameo Corporate Services Ltd.
Phone: +91-44-28460390
Email: ipo@cameoindia.com
Website: https://ipo.cameoindia.com/
Magenta Lifecare IPO is a SME IPO of 20,00,000 equity shares of the face value of ₹10 aggregating up to ₹7.00 Crores. The issue is priced at ₹35 per share. The minimum order quantity is 4000.
The IPO opens on June 5, 2024, and closes on June 7, 2024.
Cameo Corporate Services Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Magenta Lifecare IPO using UPI as a payment gateway. Zerodha customers can apply in Magenta Lifecare IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Magenta Lifecare IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Magenta Lifecare IPO opens on June 5, 2024 and closes on June 7, 2024.
Magenta Lifecare IPO lot size is 4000, and the minimum amount required for application is ₹1,40,000.
You can apply in Magenta Lifecare IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Magenta Lifecare IPO will be done on Monday, June 10, 2024, and the allotted shares will be credited to your demat account by Tuesday, June 11, 2024. Check the Magenta Lifecare IPO allotment status.
The Magenta Lifecare IPO listing date is on Wednesday, June 12, 2024.
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