Magenta Lifecare was incorporated on August 04, 2015. The company manufactures foam-based products such as mattresses and pillows, under the brand “Magenta” in India. Its product offerings include a wide range of mattresses such as memory foam, latex-based, bonded mattresses, pocketed springs, etc., and pillows like memory foam, molded memory foam, molded contour foam pillows, etc.
| Bidding Dates |
|---|
| 05 Jun 2024 - 07 Jun 2024 |
| Subscription |
|---|
| 932.11x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,40,000 | 1 | 1 | 4000 | 2.0 M | ₹35 | 59.59 % | ₹70.0 M | RHP DOC |
Magenta Lifecare IPO SUBSCRIPTION STATUS
07 Jun '24Magenta Lifecare IPO overall subscription rate was 932.11 times the total available shares
Magenta Lifecare IPO retail subscription rate was 737.93 times in the retail segment
Magenta Lifecare IPO non-institutional investor subscription rate was 1126.3 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
07 Jun 2024 (Day 3) | 737.93x | 1126.3x | - |
06 Jun 2024 (Day 2) | 165.74x | 63.3x | - |
05 Jun 2024 (Day 1) | 37.45x | 8.99x | - |
Magenta Lifecare FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| 9MFY24 | 2.4 | 60.2 | -6.1 | -6.4 | 15.8% |
| FY23 | 2.5 | 90.7 | 21.8 | 21.5 | 9.6% |
| FY22 | 1.9 | 92.4 | 13.6 | 13.4 | 11.5% |
| FY21 | 1.9 | 96.5 | 10.9 | 7.7 | 10.8% |
Magenta Lifecare IPO SUBSCRIPTION STATUS DETAILS
Magenta Lifecare had 2.0 M shares on offer
Magenta Lifecare IPO offer price was ₹35
Magenta Lifecare IPO minimum Investment was ₹140000
Magenta Lifecare IPO issue size was ₹ 70.0 M
Magenta Lifecare had a minimum lot size of 4000 Shares per application
Magenta Lifecare NUMBER OF SHARES ON OFFER
Magenta Lifecare IPO IMPORTANT DATES
| Issue Open Date | 05 Jun 2024 |
| Issue close Date | 07 Jun 2024 |
| Allotment Date | 10 Jun 2024 |
| Refund Date | 11 Jun 2024 |
| Demat Account Credit Date | 11 Jun 2024 |
| Listing Date | 12 Jun 2024 |
| Listing on Exchange(s) | BSE |
| Magenta Lifecare Allotment Status | Exchange |
Magenta Lifecare IPO subscription opened on 05 Jun 2024, and closed on 07 Jun 2024
IPO allotment for Magenta Lifecare was finalized on Monday, 10 Jun 2024
IPO listing for Magenta Lifecare was on BSE on Wednesday, 12 Jun 2024
Magenta Lifecare IPO LISTING GAINS
| Issue Price (adjusted) | 35.0 |
| Listing Open Price | 45.0 |
| Listing Close Price | 47.3 |
| Listing Gain% | 28.6% |
| Current Gain% | -71.0% |
Magenta Lifecare Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Magenta Lifecare Ltd. | 10.2 | 7 | 61.5 | 1.7 | 0.5 | 0.8 | 0.5 | 15.2 | 41.4 | 0.1 | 37 | 0.2 | 37 |
| Sheela Foam Ltd. | 677.4 | 7397.4 | 34.5 | 0.1 | 1.8 | 4.9 | 3.1 | 3875.1 | 8.5 | 159.6 | 66.1 | 19.6 | 273.1 |
| Greenlam Industries Ltd. | 273.7 | 6983.4 | 75.1 | 0.4 | 2.2 | 4.8 | 1.9 | 3054.3 | 18.4 | 56.3 | -19.3 | 3.6 | 172.9 |
| Responsive Industries Ltd. | 169.4 | 4517.4 | 30.4 | -1.2 | 3.2 | 9.5 | 8 | 1404.2 | -1.6 | 148.4 | -25.4 | 5.6 | -25.4 |
| Wakefit Innovations Ltd. | 127.8 | 4233.1 | 21.9 | 2.7 | 16.7 | 10.8 | 1534.4 | 17.5 | 189.2 | 640.4 | 5.8 | ||
| Euro Pratik Sales Ltd. | 314.1 | 3210.1 | 41.6 | 85.9 | 9.6 | 24.9 | 19.4 | 343 | 17.7 | 77.1 | 0.5 | 7.5 | 0.5 |
Magenta Lifecare INFORMATION ON IPO ISSUE
About Magenta Lifecare
Magenta Lifecare was incorporated on August 04, 2015. The company manufactures foam-based products such as mattresses and pillows, under the brand “Magenta” in India. Its product offerings include a wide range of mattresses such as memory foam, latex-based, bonded mattresses, pocketed springs, etc., and pillows like memory foam, molded memory foam, molded contour foam pillows, etc.
Object of the Issue
- Funding our working capital requirements
- General corporate purposes
Magenta Lifecare - PROMOTERS
| Name |
|---|
| Divyesh Modi |
| Khyati Modi |
Magenta Lifecare Lead Manager to the Issue
Fedex Securities Private Limited
mb@fedsec.in
Magenta Lifecare Registrar to the issue
Cameo Corporate Services Limited
ipo@cameoindia.com
Magenta Lifecare Strengths
Diversified customer base
The company has a well-diversified customer base all over India, wherein it provides the products and services as per their requirements. This reduces the intensity of any significant single customer’s contribution to revenues
Diversified product portfolio
The company's product offerings include a wide range of mattresses such as memory foam, latex-based, bonded mattresses, etc., and pillows like memory foam pillows, molded memory foam pillows, molded contour foam pillows, etc
Pan-India sales
The company has 26 distributors and the distributor dealer network is spread across more than 15 states
Magenta Lifecare Risks
Competitive environment
The company operates in a competitive environment and may not be able to effectively compete due to various factors not under its control, which could have a material adverse effect on the business, results of operations, and financial condition
Unsecured loans
The company has unsecured loans that the lenders may recall at any time and it may not have adequate funds to make timely payments
Legal proceedings
The company, directors, and promoters are parties to certain litigation and claims. These legal proceedings are pending at different levels of adjudication before various courts and regulatory authorities
IPO FAQs
The promoters of the company are Divyesh Modi and Khyati Modi.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 35.0 - 35.0.
The IPO application opens on Jun 05, 2024 and closes on Jun 07, 2024.
The minimum lot size for the IPO is 4000. The maximum lot size for the IPO is 4000.
For all category investors, the minimum application amount for this IPO is Rs. 140,000.0, the maximum value for this IPO is Rs 140,000.0.
This IPO will be allotted on Jun 10, 2024.
The refund will be credited to your account on Jun 11, 2024.
The allotted shares will be credited to your demat on Jun 11, 2024.
Magenta Lifecare Ltd.’s shares listed on the stock exchanges on Jun 12, 2024.