Fixed Price IPO | ₹7 Cr | Listed at BSE SME | Wed, Jun 5, 2024 - Fri, Jun 7, 2024
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 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) (based on upper price). The minimum lot size for investment in 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 Open
Wed, Jun 5, 2024
IPO Close
Fri, Jun 7, 2024
Issue Price
₹35 per share
Market Cap (Pre-IPO)
₹24.04 Cr
| IPO Date | 5 to 7 Jun, 2024 |
| Listed on | Wed, Jun 12, 2024 |
| Face Value | ₹10 per share |
| Issue Price | ₹35 per share |
| Lot Size | 4,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 20,00,000 shares (agg. up to ₹7 Cr) |
| Reserved for Market Maker | 1,04,000 shares Sunflower Broking Pvt.Ltd. (agg. up to ₹0.3640 Cr) |
| Fresh Issue (Ex Market Maker) | 18,96,000 shares (agg. up to ₹7 Cr) |
| Net Offered to Public | 18,96,000 shares (agg. up to ₹7 Cr) |
| Share Holding Pre Issue | 48,69,936 shares |
| Share Holding Post Issue | 68,69,936 shares |
| BSE Script Code | 544188 |
| ISIN | INE0QZ901011 |
Magenta Lifecare IPO comprises a total issue size of 20,00,000 shares. The net offer to the public is 18,96,000 shares, after excluding 1,04,000 shares allotted on a firm basis. Of the Net offer 9,48,000 (50.00%) allocated to NII 9,48,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 9,48,000 | 50.00% | 47.40% |
| Retail Shares Offered | 9,48,000 | 50.00% | 47.40% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,04,000 | 5.20% | |
| Total Shares Offered | 20,00,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 4,000 shares and in multiples thereof.
| 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 |
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:
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 15.06 | 12.51 | 14.16 | 14.60 |
| Total Income | 6.31 | 9.55 | 9.38 | 9.66 |
| Profit After Tax | 0.24 | 0.25 | 0.19 | 0.19 |
| NET Worth | 6.34 | 5.21 | 3.62 | 1.43 |
| Reserves and Surplus | 1.47 | 3.67 | 2.20 | 0.21 |
| Total Borrowing | 4.48 | 4.53 | 7.58 | 9.83 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding our working capital requirements | 4.24 |
| 2 | General corporate purposes | 1.74 |
| KPI | Dec 31, 2023 |
|---|---|
| ROE | 5.62% |
| ROCE | 13.41% |
| RoNW | 3.84% |
| PAT Margin | 4.05% |
| Price to Book Value | 2.68 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 0.50 | 0.47 |
| P/E (x) | 69.43 | 74.03 |
| Promoter Holding | 84.06% | 59.59% |
| Market Cap | ₹24.04 Cr. |
The Magenta Lifecare IPO is subscribed 983.19 times on June 7, 2024 6:19:09 PM (Day 3). The public issue subscribed 778.41 times in the retail category, [.] times in the QIB category, and 1,145.78 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 1,145.78 | 9,48,000 | 1,08,61,96,000 |
| Retail | 778.41 | 9,48,000 | 73,79,32,000 |
| Total | 983.19 | 18,96,000 | 1,86,41,24,000 |
Total Application : 2,36,923
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Manager Fees | 0.15 |
| 2 | Fees payable to Registrar, Legal and Other Advisory Services, Advertising and marketing Expenses, Printing and Distribution of issue stationery, Brokerage, Selling, Commission and upload fees | 0.39 |
| 3 | Regulators including Stock Exchange | 0.08 |
| 4 | Others, if any (including Underwriting Commission, Market making, advisory fees, depositories, marketing fees etc.) | 0.48 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹35.00 |
| Open | ₹45.00 |
| Low | ₹45.00 |
| High | ₹47.25 |
| Last Trade | ₹47.25 |
Lead Manager Reports
Magenta Lifecare IPO is a SME IPO of 20,00,000 equity shares of the face value of ₹10 aggregating up to ₹7 Crores. The issue is priced at ₹35 per share. The minimum order quantity is 4000.
The IPO opens on Wed, Jun 5, 2024, and closes on Fri, Jun 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 Wed, Jun 5, 2024 and closes on Fri, Jun 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 Tue, Jun 11, 2024. Check the Magenta Lifecare IPO allotment status.
The Magenta Lifecare IPO listing date is on Wed, Jun 12, 2024.
