Fixed Price IPO | ₹14 Cr | Listed at NSE SME | Fri, Jun 23, 2023 - Tue, Jun 27, 2023
Magson Retail IPO is a fixed price issue of ₹13.74 crores. The issue is entirely a fresh issue of 0.21 crore shares of ₹13.74 crore.
Magson Retail IPO bidding started from Jun 23, 2023 and ended on Jun 27, 2023. The allotment for Magson Retail IPO was finalized on Jul 3, 2023. The shares got listed on NSE SME on Jul 6, 2023.
Magson Retail IPO price is ₹65 per share. The lot size for an application is 2,000. The minimum amount of investment required by an individual investor (retail) is ₹1,30,000 (2000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (4,000 shares), amounting to ₹2,60,000.
ISK Advisors Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Sunflower Broking Pvt.Ltd..
Refer to Magson Retail IPO RHP for detailed Information.
IPO Open
Fri, Jun 23, 2023
IPO Close
Tue, Jun 27, 2023
Issue Price
₹65 per share
Market Cap (Pre-IPO)
₹51.03 Cr
| IPO Date | 23 to 27 Jun, 2023 |
| Listed on | Thu, Jul 6, 2023 |
| Face Value | ₹10 per share |
| Issue Price | ₹65 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 21,14,000 shares (agg. up to ₹14 Cr) |
| Reserved for Market Maker | 1,06,000 shares Sunflower Broking Pvt.Ltd. (agg. up to ₹0.6890 Cr) |
| Fresh Issue (Ex Market Maker) | 20,08,000 shares (agg. up to ₹13 Cr) |
| Net Offered to Public | 20,08,000 shares (agg. up to ₹13 Cr) |
| Share Holding Pre Issue | 57,36,000 shares |
| Share Holding Post Issue | 78,50,000 shares |
| NSE Symbol | MAGSON |
| ISIN | INE0O1S01012 |
Magson Retail IPO comprises a total issue size of 21,14,000 shares. The net offer to the public is 20,08,000 shares, after excluding 1,06,000 shares allotted on a firm basis. Of the Net offer 10,04,000 (50.00%) allocated to NII 10,04,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 10,04,000 | 50.00% | 47.49% |
| Retail Shares Offered | 10,04,000 | 50.00% | 47.49% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,06,000 | 5.01% | |
| Total Shares Offered | 21,14,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,30,000 |
| Retail (Max) | 1 | 2,000 | ₹1,30,000 |
| HNI (Min) | 2 | 4,000 | ₹2,60,000 |
Incorporated in 2018, Magson Retail & Distribution Limited is engaged in the retail and distribution business of gourmet, frozen food, and specialty foods.
Magson Retail & Distribution's product category includes:
The company has over 26 retail stores/outlets of which 16 are operated by the company, 7 are operated by franchise owners and 3 stores are operated under 2 joint ventures. MRDL operates all its stores under the registered brand name "MagSon".
These stores/outlets are located across Western India with 26 outlets in prominent cities which includes one each in Thane, Udaipur, Gandhinagar, Anand, Rajkot, Jamnagar, and Gandhidham. Three stores each in Surat and Vadodara, and thirteen stores/outlets in Ahmedabad (including one chocolate store). The total retail space of 26 outlets/stores is more than 30,000 sq. ft. with the total stock (SKU) count in the store being more than 3000 units.
The company has rented a warehouse of more than 14,000 sq. ft. in Ahmedabad from where it manages its inventory. Magson procures 75% of the products directly from the manufacturers thereby eliminating the middlemen which enables the company to earn higher margins. The other 25% is supplied directly from other distributors/wholesalers.
In December 2021, Magson launched its own brand - Rf Gourmet, it provides premium products such as French Fries, Fiery Fries, Chilli Garlic Potato Shots, Delhi Aloo Tikki, Veggie Burger Tikki, Chunky Fries, Eggs, and a range of Chicken Seekh Kababs.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|---|
| Assets | 20.00 | 14.95 | 12.84 | 8.33 |
| Total Income | 63.01 | 55.67 | 53.59 | 32.41 |
| Profit After Tax | 2.52 | 2.23 | 1.82 | 1.66 |
| NET Worth | 9.26 | 5.74 | 3.51 | 1.69 |
| Reserves and Surplus | 3.53 | 5.73 | 3.50 | 1.68 |
| Total Borrowing | 3.22 | 3.45 | 3.87 | 3.54 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To set up new organisation and stores under franchise model & tie up with major suppliers. | 3.94 |
| 2 | Working Capital Requirement | 8.00 |
| 3 | General Corporate Purpose | 1.30 |
| KPI | |
|---|---|
| Debt/Equity | 0.35 |
| RoNW | 27.19% |
| PAT Margin | 4.00% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 4.96 | |
| P/E (x) | 20.25 | |
| Promoter Holding | 95.89% | 70.06% |
| Market Cap | ₹51.03 Cr. |
The Magson IPO is subscribed 6.74 times on June 27, 2023 7:29:00 PM (Day 3). The public issue subscribed 7.38 times in the retail category, [.] times in the QIB category, and 6.09 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 6.09 | 10,04,000 | 61,18,000 |
| Retail | 7.38 | 10,04,000 | 74,06,000 |
| Total | 6.74 | 20,08,000 | 1,35,28,000 |
Total Application : 3,703
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue Management fees including fees and payment to other intermediaries such as Legal Advisors, Registrars, underwriters and other out of pocket expenses. | 0.40 |
| 2 | Brokerage and selling commission | 0.04 |
| 3 | Printing & Stationery, Distribution, Postage, etc. | 0.01 |
| 4 | Advertisement and Marketing Expenses | 0.02 |
| 5 | Stock Exchange Fees, Regulatory and other Expenses | 0.04 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹65.00 |
| Open | ₹91.15 |
| Low | ₹86.60 |
| High | ₹95.70 |
| Last Trade | ₹95.70 |
Lead Manager Reports
Magson Retail IPO is a SME IPO of 21,14,000 equity shares of the face value of ₹10 aggregating up to ₹14 Crores. The issue is priced at ₹65 per share. The minimum order quantity is 2000.
The IPO opens on Fri, Jun 23, 2023, and closes on Tue, Jun 27, 2023.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Magson Retail IPO using UPI as a payment gateway. Zerodha customers can apply in Magson Retail IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Magson Retail IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Magson Retail IPO opens on Fri, Jun 23, 2023 and closes on Tue, Jun 27, 2023.
Magson Retail IPO lot size is 2000, and the minimum amount required for application is ₹1,30,000.
You can apply in Magson Retail 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 Magson Retail IPO will be done on Monday, July 3, 2023, and the allotted shares will be credited to your demat account by Wed, Jul 5, 2023. Check the Magson Retail IPO allotment status.
The Magson Retail IPO listing date is on Thu, Jul 6, 2023.
