Magenta Lifecare Limited IPO Detail
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:
- Diversified customer base and long-standing relationship with the customers.
- Extensive and well-developed pan-India sales and distribution network.
- Diversified Product portfolio.
- Experienced Promoter Directors with extensive domain knowledge.
- Quality assurance and accreditations.
Company Promoters
Divyesh Modi and Khyati ModiIPO Details
| IPO Opening Date | Jun 05, 2024 |
| IPO Closing Date | Jun 07, 2024 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹35 per equity share |
| Market Lot | 4000 Shares |
| Min Order Quantity | 4000 Shares |
| Listing At | BSE SME |
| Issue Size | ₹7.00 Cr |
| Fresh Issue | ₹7.00 Cr |
| Offer for Sale | - |
| Retail Portion | 50% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.00x | 0.00x | 0.00x | 9.43x | 39.50x | 24.49x |
| Day 2 | 0.00x | 0.00x | 0.00x | 66.50x | 174.84x | 120.75x |
| Day 3 | 0.00x | 0.00x | 0.00x | 1145.78x | 778.41x | 983.19x |
IPO Tentative Timetable
The Magenta Lifecare Limited IPO open date is Jun 05, 2024, and the close date is Jun 07, 2024. The issue may list on Jun 12, 2024.
| IPO Open Date | Jun 05, 2024 |
| IPO Close Date | Jun 07, 2024 |
| Basis of Allotment Date | Jun 10, 2024 |
| Initiation of Refunds | Jun 11, 2024 |
| Credit of Shares to Demat Account | Jun 11, 2024 |
| IPO Listing Date | Jun 12, 2024 |
IPO Lot Size
The Magenta Lifecare Limited IPO market lot size is 4000 shares. A retail-individual investor can apply for up to 1 lots (4000 shares or ₹140000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 4000 | ₹140000 |
| Maximum | 1 | 4000 | ₹140000 |
IPO Promoter Holding
| Pre Issue Share Holding | 84.06% |
| Post Issue Share Holding | 59.59% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 1459.78 | 966.14 | 19.44 |
| 31-Mar-22 | 1415.60 | 938.47 | 18.89 |
| 31-Mar-23 | 1250.93 | 955.29 | 24.55 |
| 31-Dec-23 | 1505.71 | 630.74 | 24.36 |
Objects of the Issue:
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
Magenta Lifecare Limited IPO Registrar:
Cameo Corporate Services Limited
Magenta Lifecare Limited IPO Lead Manager(s):
Fedex Securities Pvt Ltd
Company Contact Information:
Magenta Lifecare Limited
N P Patel Estate,
A & T Padamla,
Vadodara – 391350, Gujarat, India
