June 12, 2024
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Magenta Lifecare IPO GMP Guidance & Subscription Status at Chanakyanipothi.com,
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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.
