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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 ₹65.00 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). The minimum lot size investment for 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 Date | June 23, 2023 to June 27, 2023 |
| Listing Date | July 6, 2023 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹65 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 21,14,000 shares (aggregating up to ₹13.74 Cr) |
| Reserved for Market Maker | 1,06,000 shares Sunflower Broking Pvt.Ltd. (aggregating up to ₹0.6890 Cr) |
| Net Offered to Public | 20,08,000 shares (aggregating up to ₹13.05 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 57,36,000 shares |
| Share Holding Post Issue | 78,50,000 shares |
Magson IPO offers total 21,14,000 shares. Out of which 10,04,000 (47.49%) allocated to NII, 10,04,000 (47.49%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,06,000 (5.01%) |
| NII (HNI) Shares Offered | 10,04,000 (47.49%) |
| Retail Shares Offered | 10,04,000 (47.49%) |
| Total Shares Offered | 21,14,000 (100.00%) |
Magson Retail IPO opens on June 23, 2023, and closes on June 27, 2023.
| IPO Open Date | Fri, Jun 23, 2023 |
| IPO Close Date | Tue, Jun 27, 2023 |
| Tentative Allotment | Mon, Jul 3, 2023 |
| Initiation of Refunds | Tue, Jul 4, 2023 |
| Credit of Shares to Demat | Wed, Jul 5, 2023 |
| Tentative Listing Date | Thu, Jul 6, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Jun 27, 2023 |
Investors can bid for a minimum of 2,000 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 | 2,000 | ₹1,30,000 |
| Retail (Max) | 1 | 2,000 | ₹1,30,000 |
| HNI (Min) | 2 | 4,000 | ₹2,60,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-20 | 833.45 | 3,241.22 | 166.31 | 169.04 | 168.04 | 354.00 |
| 31-Mar-21 | 1,283.84 | 5,358.92 | 181.75 | 350.80 | 349.80 | 386.60 |
| 31-Mar-22 | 1,494.69 | 5,566.77 | 223.36 | 574.06 | 573.06 | 344.72 |
| 31-Mar-23 | 1,999.87 | 6,301.49 | 251.88 | 926.25 | 352.65 | 321.95 |
| Amount in ₹ Lakhs | ||||||
The market capitalization of Magson Retail IPO is ₹51.03 Cr.
| KPI | Values |
|---|---|
| Debt/Equity | 0.35 |
| RoNW | 27.19% |
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
[Dilip Davda] The company operates in a highly competitive and fragmented segment with many established big players. It has posted steady growth in its top and bottom lines for the reported periods. Based on the financial performance so far, the issue appears fully priced. Investors may consider an investment with a medium to long-term perspective as post the Pandemic, the fancy for such type of retail marketing has increased manifold. Read detail review...
| Listing Date | July 6, 2023 |
| BSE Script Code | |
| NSE Symbol | MAGSON |
| ISIN | INE0O1S01012 |
| Final Issue Price | ₹65 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹65.00 |
| Open | ₹91.15 |
| Low | ₹86.60 |
| High | ₹95.70 |
| Last Trade | ₹95.70 |
Magson Retail & Distribution Ltd.
204-B, Primate Complex, Opp. Mother Milk Palace,
Nr. Judges Bungalows Cross Roads,
Bodakdev,
Ahmedabad, Gujarat, 380015
Phone: +91 9978607507
Email: cs.magson@gmail.com
Website: https://www.magson.in/#
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Magson Retail IPO is a SME IPO of 21,14,000 equity shares of the face value of ₹10 aggregating up to ₹13.74 Crores. The issue is priced at ₹65 per share. The minimum order quantity is 2000.
The IPO opens on June 23, 2023, and closes on June 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 June 23, 2023 and closes on June 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 Wednesday, July 5, 2023. Check the Magson Retail IPO allotment status.
The Magson Retail IPO listing date is on Thursday, July 6, 2023.
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