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Magenta Lifecare IPO is a fixed price issue of Rs 7.00 crores. The issue is entirely a fresh issue of 20 lakh shares.
Magenta Lifecare IPO bidding started from June 5, 2024 and ended on June 7, 2024. The allotment for Magenta Lifecare IPO was finalized on Monday, June 10, 2024. The shares got listed on BSE SME on June 12, 2024.
Magenta Lifecare IPO price is ₹35 per share. The minimum lot size for an application is 4000 Shares. The minimum amount of investment required by retail investors is ₹140,000. The minimum lot size investment for HNI is 2 lots (8,000 shares) amounting to ₹280,000.
Fedex Securities Pvt Ltd is the book running lead manager of the Magenta Lifecare IPO, while Cameo Corporate Services Limited is the registrar for the issue. The market maker for Magenta Lifecare IPO is Sunflower Broking.
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 |
| Price | ₹35 per share |
| Lot Size | 4000 Shares |
| Total Issue Size | 2,000,000 shares (aggregating up to ₹7.00 Cr) |
| Fresh Issue | 2,000,000 shares (aggregating up to ₹7.00 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 4,869,936 |
| Share holding post issue | 6,869,936 |
| Market Maker portion | 104,000 shares Sunflower Broking |
Magenta Lifecare IPO offers 2,000,000 shares. 948,000 (47.40%) to NII, 948,000 (47.40%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 104,000 (5.20%) |
| Other Shares Offered | 948,000 (47.40%) |
| Retail Shares Offered | 948,000 (47.40%) |
| Total Shares Offered | 2,000,000 (100%) |
Magenta Lifecare IPO opens on June 5, 2024, and closes on June 7, 2024.
| IPO Open Date | Wednesday, June 5, 2024 |
| IPO Close Date | Friday, June 7, 2024 |
| Basis of Allotment | Monday, June 10, 2024 |
| Initiation of Refunds | Tuesday, June 11, 2024 |
| Credit of Shares to Demat | Tuesday, June 11, 2024 |
| Listing Date | Wednesday, June 12, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 7, 2024 |
Investors can bid for a minimum of 4000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 4000 | ₹140,000 |
| Retail (Max) | 1 | 4000 | ₹140,000 |
| HNI (Min) | 2 | 8,000 | ₹280,000 |
| Lot Size Calculator | |||
Divyesh Modi and Khyati Modi are the company promoters.
| Share Holding Pre Issue | 84.06% |
| Share Holding Post Issue | 59.59% |
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 date of Prospectus, 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 |
| Revenue | 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 Rs 24.04 Cr.
KPI as of December 31, 2023.
| KPI | Values |
|---|---|
| ROE | 5.62% |
| ROCE | 13.41% |
| RoNW | 3.84% |
| P/BV | 2.68 |
| PAT Margin (%) | 4.05 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 0.5 | 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...
The Magenta Lifecare IPO is subscribed 983.19 times on June 7, 2024 6:19:09 PM. 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) |
|---|---|
| Other | 1,145.78 |
| Retail | 778.41 |
| Total | 983.19 |
Total Application : 236,923 (999.68 times)
| Listing Date | June 12, 2024 |
| BSE Script Code | 544188 |
| NSE Symbol | |
| ISIN | INE0QZ901011 |
| Final Issue Price | ₹35 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE SME |
|---|
| ₹35.00 |
| ₹45.00 |
| ₹45.00 |
| ₹47.25 |
| ₹47.25 |
Magenta Lifecare Limited
N P Patel Estate,
A & T Padamla,
Vadodara – 391350, Gujarat, India
Phone: +91 7573022234
Email: info@magentalifecare.com
Website: https://www.magentamattresses.com/
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: ipo@cameoindia.com
Website: https://ipo.cameoindia.com/
SME Company Owners
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Check our SME IPO Guide 
Magenta Lifecare IPO is a SME IPO of 2,000,000 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 Shares.
The IPO opens on June 5, 2024, and closes on June 7, 2024.
Cameo Corporate Services Limited 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 Shares, and the minimum amount required is ₹140,000.
You can apply in Magenta Lifecare IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, 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.
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