Magenta Lifecare IPO will open for subscription from 05 June 2024. The company aims for an issue size of ₹7.00 Cr through this IPO.
Company Overview
| Full name | Magenta Lifecare Limited |
| Sector | Fast Moving Consumer Goods |
| Industry | Household & Personal Products |
| Company Website | https://www.magentamattresses.com/ |
About Company
Magenta Lifecare manufactures an array of foam-based products, including mattresses and pillows, under its ‘Magenta’ brand in India. Their product line features various mattresses, including memory foam, latex, bonded, and pocketed spring varieties. In addition, they offer pillows in multiple forms, including memory foam pillows, molded memory foam pillows, and molded contour foam pillows.
The company has established a distributor and dealer/retailer network spanning multiple states in India. It sells its products through offline channels, including multi-brand outlets, a network of dealers, and online e-commerce platforms. Magenta Lifecare’s manufacturing facility is located in Vadodara, Gujarat. It has an installed capacity to produce 60,000 mattresses and 70,000 pillows annually. As of 29 May 2024, the company has a total staff strength of 41 employees, comprising both skilled and unskilled labor.
The Objectives of the Issue
- Funding our working capital requirements; and
- General corporate purposes
Magenta Lifecare IPO Timetable
| IPO Opening date | 05 June 2024 |
| IPO Closing | 07 June 2024 |
| Basis of Allotment | 10 June 2024 |
| Initiation Refund | 11 June 2024 |
| Credit to Demat Account | 11 June 2024 |
| Listing Date | 12 June 2024 |
Magenta Lifecare IPO details
| Issue type | Fixed Price Issue IPO |
| IPO issue size | ₹7.00 Cr-2,000,000 shares |
| Fresh Issue | ₹7.00 Cr-2,000,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Offer Price | ₹35 per share |
| Lot size | 4000 Shares |
| Market Maker portion | 104,000 shares |
| Shareholding pre-issue | 4,869,936 |
| Shareholding post-issue | 6,869,936 |
| Listing Exchange | BSE SME |
Magenta Lifecare Offer Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 4000 | ₹140,000 |
| Retail (Max) | 1 | 4000 | ₹140,000 |
| HNI (Min) | 2 | 8,000 | ₹280,000 |
Magenta Lifecare Offer Documents
Magenta Lifecare IPO Reservation Details
| 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 Financial Performance
| FY 2021 | FY 2022 | FY 2023 | 9M FY 2024 | |
| Revenue | 964.74 | 924.40 | 906.61 | 601.83 |
| Expenses | 948.57 | 915.83 | 923.74 | 564.40 |
| Net income | 19.44 | 18.89 | 24.55 | 24.36 |
Magenta Lifecare Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 0.53 | 0.44 | 0.53 |
| PE ratio | – | – | 66.04 |
| RONW (%) | 13.60 | 5.22 | 4.71 |
| NAV | 3.90 | 8.49 | 11.26 |
| ROCE (%) | 7.64 | 8.95 | 11.86 |
| EBITDA (%) | 10.83 | 11.50 | 9.62 |
| Debt/Equity | 6.88 | 2.09 | 0.87 |
Company Promoters
- Divyesh Modi
- Khyati Modi
Promoter Holding
| Pre Issue Share Holding | 84.06% |
| Post Issue Share Holding | 59.59% |
Magenta Lifecare Offer GMP Update
| Date | Consolidated IPO GMP | Kostak | Subject to Sauda |
| 11 June 2024 | 12 | – | 35,000 |
| 10 June 2024 | 13 | – | 38,500 |
| 8 June 2024 | 15 | – | 50,000 |
| 7 June 2024 | 22 | – | 70,000 |
| 6 June 2024 | 27 | – | 75,500 |
| 5 June 2024 | 25 | – | 73,500 |
| 4 June 2024 | 25 | – | 73,500 |
Magenta Lifecare IPO Subscription Update
| Category | Non-retail | Retail | Total |
|---|---|---|---|
| Shares Offered | 9,48,000 | 9,48,000 | 18,96,000 |
| 7 Jun 2024 | 1188.08 | 778.41 | 983.24 |
| 6 Jun 2024 | 67.62 | 186.50 | 127.06 |
| 5 Jun 2024 | 9.49 | 39.50 | 24.49 |
Magenta Lifecare IPO Allotment Status
Magenta Lifecare IPO allotment status is now available on Cameo Corporate Services’ website. Click on Cameo Corporate Services weblink to get allotment status.
Magenta Lifecare IPO Listing Details
| Listing Date | 12 June 2024 |
| BSE Scrip Code | 544188 |
| NSE Symbol | – |
| ISIN | INE0QZ901011 |
| Final Issue Price | ₹35 per share |
Magenta Lifecare IPO Listing Day Update
| Listing Exchange | BSE SME |
| Final Issue Price | ₹35.00 |
| Open | ₹45.00 |
| Low | ₹45.00 |
| High | ₹47.25 |
| Last Trade | ₹47.25 |
Magenta Lifecare IPO Lead Manager(s)
FEDEX SECURITIES PRIVATE LIMITED
B 7, 3rd Floor, Jay Chambers, Dayaldas Road,
Vile Parle – [East], Mumbai – 400 057, Maharashtra
Phone: +91 81049 85249
Email: mb@fedsec.in
Website: www.fedsec.in
Magenta Lifecare Registrar
CAMEO CORPORATE SERVICES LIMITED
“Subramanian Building”, No. 01, Club House Road,
Mount Road, Chennai – 600 002, Tamil Nadu
Phone: +91-44-40020700
Email: investor@cameoindia.com
Website: www.cameoindia.com
Magenta Lifecare Contact Details
MAGENTA LIFECARE LIMITED
N P Patel Estate, A & T Padamla,
Vadodara – 391350, Gujarat, India
Phone: +91 7573022234
E-mail: info@magentalifecare.com
Website: www.magentamattresses.com
Magenta Lifecare IPO FAQs
What is the Magenta Lifecare offer size?
Magenta Lifecare offer size is ₹ 7.0 crores.
What is the Magenta Lifecare offer price band?
Magenta Lifecare public offer price is ₹ 35 per share.
What is the lot size of the Magenta Lifecare Offer?
Magenta Lifecare offer a lot size is 4,000 shares.
What is Magenta Lifecare Offer GMP today?
Magenta Lifecare IPO GMP today is ₹ 12 per share.
What is the Magenta Lifecare kostak rate today?
Magenta Lifecare kostak rate today is ₹ NA per application.
What is Magenta Lifecare Subject to the Sauda rate today?
Magenta Lifecare is Subject to the Sauda rate today is ₹ 35,000 per application.
Final thoughts
Magenta Lifecare IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. Study the company well and subscribe if you feel good about it. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.
Happy Investing
