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Magson IPO is a fixed price issue of Rs 13.74 crores. The issue is entirely a fresh issue of 21.14 lakh shares.
Magson IPO bidding started from June 23, 2023 and ended on June 27, 2023. The allotment for Magson IPO was finalized on Monday, July 3, 2023. The shares got listed on NSE SME on July 6, 2023.
Magson IPO price is ₹65 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹130,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹260,000.
Isk Advisors Pvt Ltd is the book running lead manager of the Magson IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Magson IPO is Sunflower Broking.
Refer to Magson IPO RHP for detailed information.
| IPO Date | June 23, 2023 to June 27, 2023 |
| Listing Date | July 6, 2023 |
| Face Value | ₹10 per share |
| Price | ₹65 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 2,114,000 shares (aggregating up to ₹13.74 Cr) |
| Fresh Issue | 2,114,000 shares (aggregating up to ₹13.74 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 5,736,000 |
| Share holding post issue | 7,850,000 |
| Market Maker portion | 106,000 shares Sunflower Broking |
Magson IPO offers 2,114,000 shares. 1,004,000 (47.49%) to NII, 1,004,000 (47.49%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 106,000 (5.01%) |
| Other Shares Offered | 1,004,000 (47.49%) |
| Retail Shares Offered | 1,004,000 (47.49%) |
| Total Shares Offered | 2,114,000 (100%) |
Magson IPO opens on June 23, 2023, and closes on June 27, 2023.
| IPO Open Date | Friday, June 23, 2023 |
| IPO Close Date | Tuesday, June 27, 2023 |
| Basis of Allotment | Monday, July 3, 2023 |
| Initiation of Refunds | Tuesday, July 4, 2023 |
| Credit of Shares to Demat | Wednesday, July 5, 2023 |
| Listing Date | Thursday, July 6, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 27, 2023 |
Investors can bid for a minimum of 2000 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 | 2000 | ₹130,000 |
| Retail (Max) | 1 | 2000 | ₹130,000 |
| HNI (Min) | 2 | 4,000 | ₹260,000 |
| Lot Size Calculator | |||
Mr. Rajesh Emmanuel Francis and Mr. Manish Shivnarayan Pancholi are the company promoters.
| Share Holding Pre Issue | 95.89% |
| Share Holding Post Issue | 70.06% |
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 IPO is Rs 51.03 Cr.
| KPI | Values |
|---|---|
| Debt/Equity | 0.35 |
| RoNW | 27.19% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 4.96 | |
| P/E (x) | 20.25 |
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...
The Magson IPO is subscribed 6.74 times on June 27, 2023 7:29:00 PM. 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) |
|---|---|
| Other | 6.09 |
| Retail | 7.38 |
| Total | 6.74 |
Total Application : 3,703 (7.38 times)
| Listing Date | July 6, 2023 |
| BSE Script Code | |
| NSE Symbol | MAGSON |
| ISIN | INE0O1S01012 |
| Final Issue Price | ₹65 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹65.00 |
| ₹91.15 |
| ₹86.60 |
| ₹95.70 |
| ₹95.70 |
Magson Retail And Distribution Limited
204-B, Primate Complex, Opp. Mother Milk Palace,
Nr. Judges Bungalows Cross Roads,
Bodakdev, Ahmedabad - 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
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Magson IPO is a SME IPO of 2,114,000 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 Shares.
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 IPO using UPI as a payment gateway. Zerodha customers can apply in Magson IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Magson IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Magson IPO opens on June 23, 2023 and closes on June 27, 2023.
Magson IPO lot size is 2000 Shares, and the minimum amount required is ₹130,000.
You can apply in Magson 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 Magson 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 IPO allotment status.
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