Magenta Lifecare Limited IPO Message Board (Page 2)

34 lot applying in 3 account

On fundamentals, this is extremely average. I don't see it listing negative (on EV/EBITDA basis, the issue price is alright).

But this is a tiny size BSE listing so operators could show up. Applying FF because of this and not on fundamentals (plus no competing issues).

Skipping all three IPOs..

Finding good names to buy in alreadylisted IPOs

Bought Atmastco today.. folks paise banane keliye aaye ho ya block unblock khelne ke liye...

Atmastco has a very solid growth trajectory for this year..defense theme is not going to change ..nd tey have orders worth 740cr.. supplying bullet proof jackets and helmets to Indian army.

Bought Delaplex today. Scenario for IT is improving.

List of SMEs bought in past few days:

Phantom VFX
Beacon
All e tech
OrianaAtmastco
Unihealth
Delaplex
Konstelec
Sar televenture

Will try tomorrow for Aimtron again

GMP FALL DOWN 50%, NOW ONLY 14 GMP

Final Verdict

Magenta is over subscribed enough for me to consider it as AVOID, if someone has huge capital, can think of this counter as there can be good listing gains.

3C IT on other hand, is a very risky bet, with more negatives. So not going for that.

So, I am going with Sattrix (not FF), with a clear mindset of short to mid term investment (if listed flat. For now, I am not assuming this to list negative, unless something comes up next week). But, if this lists anything above 50%, if at all, I will exit on listing. Fundamentals are not great, but company is doing good, management looks committed.

Out of 7 cr raised - 1 cr is only for IPO proceeds.. that makes no sense..
Fedex is shady ..
this IPO irrespective of GMP is strict avoid.

Is it safe to invest in SME during this volatile time ? I see subscription times is increasing however, no much talks about this company .

​@InvestBright If you are conservative investor or new to SME IPOs then wait out the market volatility. Markets will be stable sooner rather than later..
Those who can take risk, apply in these SMEs..

Specially, this IPO is of very very small size, so very less chance of allotment and high chance of manipulation by operators..

Take your call, all the best..

thanks @Vimal Garodia  for your response.
Yes, pretty new to SME IPO. so learning SME processes and "bed testing with 2/3 lot's only"
applied 2 lots only , let see how it goes.
All the best to you too :-)

I am getting an error msg while applying through Indian Bank Asba...
Kindly see the attached screenshot & help.

Can anyone help on this matter ??

You might need to visit bank to set ASBA threshold.

Points Noteworthy:

1. As with other issues, promoter group is inexperienced here as well which reflects in the growth and industry data presented in the RHP.

2 .Small issue size, hence easier to manage on either side. Likewise subscription will be huge.

3. MM is underwriting 85%, LM Fedex underwrites 15%. Comparatively MM has a better record than Fedex.

4. Litigations : personal and on company basis equates to almost 3x of PAT, if they are to materialise

5. After series of positive cash flows, in FY24 it has started dipping, largely due to some advances from customers for future sales. Though this is of natural occurrence, huge competition from unorganised sector is always an underlying problem

6. No mention of working capital needs as of 31 March 2024. Direct estimate is given for 31 March 2025 from 31 Dec 23. This in hindsight points that end revenue for FY24 remains close to the figures reported until 31 Dec 2023, if this info is left out intentionally or is it just an Inadvertent mistake ?!

7. Estimates show FY24 P/E close to 75. On FY25 basis it comes close to 40. Margins are pretty thin close 4-5% indicating there is practically no pricing power for the foam products.

8. Avg peer P/E is close to 32 where the peers are doing way better in Revenue, EBITDA, PAT margins.

9. 68% concentrated revenue from One state of Gujarat suggests expansion if any, is hard to come by.

10. Current capacity utilisation combined for all 4 product category is only 27% of total installed capacity.

New products are in queue to remove dependency from Pillows to gather better margins

Can we apply ipo application of minor a/c through hdfc net banking

Subscription here is going out of hands now, so will have to skip it.

I will focus on the other two open IPOs.

​@Palka: Frankly none of them is attracting me to apply right now. Though, Sattrix looks better, if given these 3 options only.

GMP is silent in other twos, maybe the grey market after election results in such week issues have not been active.

Grey brokers seem to have lost a lot in election results, particularly Tuesday!

2 UPI mandate request received for single application. What to do?

​@vsvs Every mandate has the application number details.

If both mandate has same application number (which ideally will not happen unless you edit your application) then accept any one.
🙏

Thanks to both of you. But I did not edit the application yet both UPI have same application no. As today is the last day,I cancelled the application and applied again.

Not finding any valid reason for high gmp which has resulted in high oversubscription for a company with yearly net profit of 25 lakhs, and LM having a mixed track record( with many failures) 🤔🤔🤔

Mentioned LM failure after listing

Hello esteemed members ,
Does the GMP look genuine or will fizzle out like associated coaters ?

​@Admin @ Chittorgarh.com @Prachi @ Team Chittorgarh.com @Tripti @ Team Chittorgarh.com 

Please look attached imaged some total application calculation is wrong. I am not sure but may be it is wrong.
Thanks

Greetings,

The subscription data is updated. The subscription figures are correctly added.

Thanks for the feedback!

Avoiding this one
very small issue size

Subject to 30000/-

Is GMP fake? PE seems very high and company size is not significant.

High GMP till yesterday was fake. GMP down to near 20% now.

Seems like a low margin business going by the profitability numbers . Post issue P/E also seem to be quite high .

Life care company does what?
- Produces Mattress 🤣🤣
Saves a lot of life.
😜

Helps..reproduce lot of life.

😁😁🤣