Magenta Lifecare IPO Review

 
Magenta Lifecare IPO Review

IPO Open Date: June 5, 2024

IPO Close Date: June 7, 2024

IPO Price: ₹35 per share

Lot Size: 4000 Shares

Listing: June 12, 2024

Magenta Lifecare is scheduled to hit the market on June 05, 2024 and close on June 07, 2024. Magenta Lifecare plans to raise around ₹7.00 Cr through an IPO with a sale of up to 2,000,000 equity shares of ₹10 each. The Retail offered 50%, Other Shares Offered 50%.

Magenta Lifecare Limited, established in 2015, specializes in manufacturing mattresses and pillows in India under the brand “Magenta.” The company's product range includes memory foam, latex-based, bonded mattresses, pocketed springs, as well as various types of pillows like memory foam pillows, moulded memory foam pillows, and moulded contour foam pillows. With a manufacturing facility situated in Gujarat, India, the company currently has an installed capacity of 60,000 mattresses and 70,000 pillows. Magenta Lifecare caters to a diverse customer base in retail, hotels, and institutions.

One of Magenta Lifecare's key strengths lies in its diversified customer base and long-standing relationships, coupled with an extensive pan-India sales and distribution network. Additionally, the company boasts a diversified product portfolio, backed by experienced Promoter Directors possessing extensive domain knowledge. Furthermore, Magenta Lifecare emphasizes quality assurance and holds relevant accreditations, further enhancing its competitive edge in the market.

Magenta Lifecare



Magenta Lifecare IPO Details

Magenta Lifecare IPO opens on June 05, 2024, and closes on June 07, 2024. The Listing date for Magenta Lifecare IPO is on June 12, 2024. The price band for IPO is ₹35 per share and lot size of 4000 Shares.

IPO DateJune 05, 2024 to June 07, 2024
Listing DateJune 12, 2024
Price₹35 per share
Lot Size4000 Shares
Issue Size₹7.00 Cr
Face Value₹10 per share

Magenta Lifecare IPO Tentative Timetable

Magenta Lifecare opening date is June 05, 2024 and close date is June 07, 2024. The IPO allotment date is June 10, 2024. The refund initiation of IPO is on June 11, 2024. The credit of shares in demat account is on June 11, 2024. The listing date is on June 12, 2024.

EventDate
IPO OpeningJune 05, 2024
IPO ClosingJune 07, 2024
IPO Allotment DateJune 10, 2024
Refund InitiationJune 11, 2024
Shares Credit to DematJune 11, 2024
Lisiting DateJune 12, 2024

Magenta Lifecare IPO Lot Size

Lot Size of this IPO is 4000 shares. A retail-individual investor can apply for up to 1 lots (4000 shares or ₹140,000).

CategoryLotsSharesAmount
Retail(Minimum)14000₹140,000
Retail(Maximum)14000₹140,000
HNI (Minimum)28000₹280,000

Magenta Lifecare IPO Promoter Holding

Pre Issue Share Holding84.06%
Post Issue Share Holding59.59%

Magenta Lifecare IPO Review

Magenta Lifecare Ltd. (MLL) is gearing up to introduce its inaugural IPO, comprising 2,000,000 equity shares priced at Rs. 35 per share, with the intention of raising Rs. 7.00 crore. The company specializes in the production of foam-based goods like mattresses and pillows under its renowned brand “Magenta.” Renowned for its commitment to quality and innovation, MLL has established a strong presence in various sectors including retail, hospitality, and institutional clients throughout India. The IPO subscription window is scheduled to open on June 5, 2024, and will remain accessible for investors until June 7, 2024, with an initial application requirement of 4000 shares.

Analyzing the financial performance of MLL reveals a consistent growth pattern, with a total income and net profit of Rs. 9.55 crore and Rs. 0.25 crore, respectively, in the fiscal year 2022-23. The company's average Earnings Per Share (EPS) figure stands at Rs. 0.50 over the past three fiscal years, indicating a stable financial track record. However, the aggressive pricing strategy for the IPO, reflected in a Price-to-Earnings (P/E) ratio of 74.47 based on the FY24 annualized earnings, necessitates a thorough evaluation by potential investors to assess the associated returns and risks of investing in MLL. The management's strategic focus on bolstering margins through an asset-light business model and effective cost management practices bodes well for the company's future growth trajectory.

In summary, Magenta Lifecare Ltd.'s IPO offers a compelling opportunity for discerning investors seeking long-term benefits within the foam-based product sector. The company's unwavering dedication to delivering quality products, fostering innovation, and implementing sound cost management strategies positions it favorably for potential expansion despite operating within a fiercely competitive market landscape. While the financial indicators point towards a consistent performance track record, investors are advised to carefully consider the aggressive pricing strategy of the IPO and the company's outlined growth initiatives before making informed investment decisions.

Magenta Lifecare IPO Subscription Status (Bidding Details)

Table not found

Magenta Lifecare IPO Broker Recommendations

  • Capital Market: To be updated soon
  • Anand Rathi: To be updated soon
  • SMC Global: To be updated soon
  • Arihant Capital: To be updated soon

Magenta Lifecare IPO FAQs

What is Magenta Lifecare IPO?

Sattrix is issuing 2,000,000 equity shares with a face value of 10 each, totaling up to ₹7.00 Cr. The shares are being offered at a price of ₹35 each, with a minimum order quantity of 4000 shares.

Cameo Corporate Services Limited is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.

When Magenta Lifecare IPO will open?

Magenta Lifecare will open on June 05, 2024 for QIB, NII, and Retail Investors.

When Magenta Lifecare IPO will end?

Magenta Lifecare will end on June 07, 2024.

What is Magenta Lifecare IPO Size?

Magenta Lifecare IPO size is 7.00 Cr.

What is Magenta Lifecare IPO Price Band?

Magenta Lifecare price band is ₹35 per share.

What is the Magenta Lifecare IPO Allotment Date?

Magenta Lifecare allotment date is June 10, 2024.

What is the Magenta Lifecare IPO Listing Date?

Magenta Lifecare listing date is June 12, 2024. The IPO is to be listed on BSE and NSE.

How to Magenta Lifecare IPO through Zerodha?

To apply for the IPO “Magenta Lifecare” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.

How to Apply Magenta Lifecare IPO through Upstox?

To apply for the IPO “Magenta Lifecare” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.

How to check Magenta Lifecare IPO Allotment Status?

For Magenta Lifecare IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.

What is Magenta Lifecare IPO GMP?

You can check out here: Magenta Lifecare IPO GMP

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About Ishika Agarwal

Ishika Agarwal is a seasoned financial writer with a strong background in the stock market and investment sector. Ishika has a passion for analyzing and interpreting complex financial data to provide valuable insights to her readers.

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