Magenta Lifecare IPO

    Magenta Lifecare IPO GMP Guidance & Subscription Status at Chanakyanipothi.com,
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    Table of Contents

    Magenta Lifecare IPOPost Listing Review:
    The scrip is listed at Rs.45, premium of 28.57% over the issue price of Rs.35. This listing has been in line with the expectations of the grey market players.



    What is the latest GMP of Magenta Lifecare IPO?*
    Premium: Rs. 11
    Min Application Rs. 
    Subject to Rs.33400

    Check Subscription status of Magenta Lifecare IPO

    On 7 June 2024 @ 5.00 (Day 4) (Closed)
    Review: RII strong trend observed
    NII:    1145.78 T
    RII:      778.41 T
    Total:   983.29 T
    Application: 236923 (999.68X)
    Amount wise Subscription: Rs. 6883.03 Crore

    What is the business of Magenta Lifecare?

    Magenta Lifecare is manufacturer of foam-based product such as mattresses and pillows which is marketed under its brand “Magenta” in India. Its Product offerings include wide range of mattresses such as memory foam, latex based, bonded mattresses, pocketed spring etc. and pillows such as memory foam pillow, molded memory foam pillow, molded contour foam pillow etc. It believes that its success is attributable to the quality of products that it offers to its customers, spread across retail, hotels and institutions. Driven by innovation, it strives to introduce new and innovative products on a continuous basis with the help of its team. For instance, it has introduced green tea and bamboo charcoal based herbal mattress and pet bed mattresses in its range of products. Further, it also supplies processed raw foam and adjustable bed frame (hydraulic bed) which it imports under its brand Magenta.

    Get more information about the company @ https://www.magentamattresses.com/

    Magenta Lifecare IPO Details
    IPO opens on  5 June 2024
    IPO closes on  7 June 2024
    Issue Type Book Built Issue IPO
    Issue Size 2000000 Shares /
    Rs 7.00 Crore
    * Fresh Issue 2000000 Shares /
    Rs 7.00 Crore
    * Offer for Sale  – Shares /
    Rs – Crore
    Market Maker Portion 104000 Shares
    Net offer to Public 1896000 Shares/
    Rs.6.64 Crore
    Face Value per share Rs. 10
    Price Band Rs. 35
    Employee discount  Rs. 0 per share
    Retail Lot Size  4000 Shares
    Listing will at  BSE SME
    Shares offered in Magenta Lifecare IPO
      Shares Rs. (Crore)
    QIB (50%)
    NII  (15%) 948000 3.32
    RII  (35%) 948000 3.32
    Total Shares  1896000 6.64
    Retail portion will be oversubscribed by  237
    Forms
    How much Shares to Apply in Magenta Lifecare IPO?
    Min Retail Application 4000 Shares Rs. 140000
    Min HNI Application  8000 Shares Rs.280000

    Who are the Promoters of Magenta Lifecare IPO?
    Divyesh Modi and Khyati Modi are the company promoters.

    What are the Objects of Magenta Lifecare IPO?

    The Offer comprises only of a Fresh Issue of Equity shares.

    The company intends to utilize the proceeds of the Offer to meet the following objects: –

    1. Funding our working capital requirements; and

    2. General corporate purposes

    Magenta Lifecare IPO Tentative timetable
    IPO opens on 5 June 2024
    IPO Closes on 7 June 2024
    IPO Allotment on  10 June 2024
    Refund Initiation  11 June 2024
    Credit of Shares 11 June 2024
    Listing on 12 June 2024
    Registered Office of the Company
    Magenta Lifecare Limited
    N P Patel Estate,
    A & T Padamla,
    Vadodara – 391350, Gujarat, India

    Who is the Lead Manager of Magenta Lifecare IPO?
    Fedex Securities Pvt Ltd
    Who is the Registrar to IPO?
    Cameo Corporate Services Limited
    Magenta Lifecare IPO Financial & Analytical Ratios
    Year Total Income Net Profit EPS RoNW
      Rs.in Cr Rs.in Crore Rs. %
    2020-21 9.66 0.19 0.53 13.60
    2021-22 9.38 0.19 0.44 5.22
    2022-23  9.55 0.24 0.53 4.71
    Book Value of the Share on (reworked after Bonus) 31.03.2023 Rs 11.26    
    BV of the Share at cap price after the IPO Rs. 19.47    
    Offer Price/upper band   Rs. 35    

    Sattrix Information Security

    Magenta Lifecare IPO
    Key Performance indicators
    Price/last EPS of 22-23  66
    Price/BV Ratio 3.11
    Upper price/BV after IPO  1.80


    How Magenta Lifecare IPO compares with the Peers?

    As on date of RHP FV Total  PE
      Rs. Income Ratio of
        Rs. In Cr  
    Magenta Lifecare 10       9 66
    Sheela Foam   5 2873 44.65
    Tirupati Foam 10   102 17.85
           

    # This is only coverage of News related to Grey Market Premium & subject to rates. We do not deal in grey market premium. We do not recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.

    Magenta Lifecare IPO To the point Guidance
    Magenta Lifecare is manufacturer of foam-based product such as mattresses and pillows which is marketed under its brand “Magenta” in India. Its Product offerings include wide range of mattresses such as memory foam, latex based, bonded mattresses, pocketed spring etc. and pillows such as memory foam pillow, molded memory foam pillow, molded contour foam pillow etc.
    Size:  The net offer is of Rs. 6.64 Crore/1896000 shares. Retail portion is Rs. 3.32 crore and it can get one time subscribed with 237 applications. The size of the IPO is very small, looking to the investor frenzy and one time over subscription may not be an issue. 
    Financial Snapshot:
    The company has small total incomes and net profits during last 3 years The shares are offered at very high valuation (PE of 66)as compared to market leader: Sheela Foam which has PE multiple of 44.65. So from fundamental angle, the IPO is not very attractive. However being of very small size, it will bring in huge oversubscription and may also command high premium. Such premium can add attractiveness to this IPO. May Apply.

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    Magenta Lifecare
    IPO GMP today details?

    Magenta Lifecare IPO

    Magenta Lifecare IPO FAQs

    What is Magenta Lifecare IPO?

    Magenta Lifecare is a SME IPO of 1896000 equity shares of the face value of Rs. 10 aggregating up to Rs. 7.00 Crores. The issue is priced at Rs.35 per share. The minimum order quantity is 4000 Shares.

    When will Magenta Lifecare IPO open?
    Magenta Lifecare IPO opens on June 5, 2024, and closes on June 7, 2024.

    What is the lot size of Magenta Lifecare IPO?
    Magenta Lifecare IPO lot size is 4000 Shares, and the minimum amount required is Rs.140000.

    How to apply for Magenta Lifecare IPO?
    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.

    When is Magenta Lifecare IPO allotment?
    The finalization of Basis of Allotment for Magenta Lifecare IPO will be done on 10 June 2024, and the allotted shares will be credited to your demat account by June 11, 2024.

    When is Magenta Lifecare IPO listing date?
    Magenta Lifecare IPO listing date is June 12, 2024.

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