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Magenta Lifecare IPO – GMP, Details & Review

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Magenta Lifecare Limited who are manufacturer of foam-based product such as mattresses and pillows are raising 7 crores approximately through Initial Public Offerings (IPO). The IPO will be open from 05th June, 2024 and will close on 07th June, 2024. The IPO Price band is set to ₹35 and a retail investor can do minimum investment of 140,000 for a single lot of 4000 shares.

Magenta Lifecare Limited 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. Their thoughtfully designed products provide comfort, with ergonomic design, thermal comfort, pressure relief, motion isolation, easy position realignment, and long-term durability. They believe that their products are designed to support, comfort, and cool the body, leading to better-quality sleep.

They have developed distributor and dealer/retailer network across multiple states in India. They sell products through offline channel of multi brand outlet and through a network of dealers and also through online e-commerce platform. Their distributors are appointed region wise. They are capable of manufacturing both standardized as well as customized products. Company’s manufacturing facility is located at N P Patel Estate, A & T Padamla, Vadodara-391350, Gujarat, India. Their installed capacity for manufacturing of mattresses is currently at 60,000 Nos. and 70,000 nos. of pillows.

Magenta Lifecare IPO Important Dates And Prices

IPO Opening DateJune 05, 2024
IPO Closing DateJune 07, 2024
IPO Allotment DateJune 10, 2024
Date of Refund InitiationJune 11, 2024
Single Price₹35
Total Shares4000/Lot
Minimum Investment₹140,000
IPO ListingJune 12, 2024
Listing OnBSE SME

Magenta Lifecare IPO Other Important Details

IPO Issue Size₹7 Crores
IPO Face Value₹10/Share
IPO Retail Percentage50%
IPO Others Percentage50%
Retail Min. Investment (1 Lot)₹140,000 (4000 Shares)
Retail Max. Investment (1 Lot)₹140,000 (4000 Shares)
HNI Min. Investment (2 Lots)₹280,000 (8000 Shares)
IPO Mandate Last Date07 June, 2024 (Till 5 PM)
IPO RegistrarCameo Corporate Services Limited

Magenta Lifecare IPO GMP (Grey Market Premium)

Day By Day analysis of Magenta Lifecare IPO GMP. IPO Grey Market Premium can increase or decrease depending upon the buyer interests.

As On 03-06-2024₹20
As On 04-06-2024₹28
As On 05-06-2024₹28
As On 07-06-2024₹10
As On 08-06-2024₹10
As On 10-06-2024₹11

Magenta Lifecare Limited Promoters

  • Mr. Divyesh Modi (Chairman and Managing Director).
  • Mrs. Khyati Modi (Non Executive Director).

Shareholding Pattern or Promoter Holding in Magenta Lifecare IPO

Equity ShareholdingNo. of SharesPercentage of Shares
Pre Issue48,69,93684.06%
Post Issue68,69,93659.59%

Magenta Lifecare Limited Qualities & Strength

  • Introduce new and innovative products on a continuous basis.
  • India’s first brand that offers Mattresses made with pro-health CertiPUR-US certified foam. 
  • Company offer unique features, one of the longest warranty periods and use the finest quality material in their mattresses.
  • Their mattresses offer quality sleep with the use of world-class sleep technology.
IncorporationRegistered OfficeWebsiteIPO Doc
August 04, 2015N P Patel Estate, A & T Padamla,
Vadodara – 391350, Gujarat, India.
www.magentamattresses.comRHP PDF

Objectives of the Magenta Lifecare IPO Issue

Magenta Lifecare Limited Company is going to use the funds in:

  • Funding working capital requirements – The Company’s business is working capital intensive. For this they have availed secured short-term borrowings from banks and the outstanding amounts thereunder, for the financial year ended on March 31, 2023 and for the for the period ended on December 31, 2023 is ₹ 379.33 Lakhs and ₹ 371.20 Lakhs, respectively. This will help them repay the loan and increase in profitability.
  • General Corporate Purpose.

In addition, they believe listing will enhance their corporate image and visibility of brand name of the Company. Company also believe that they will receive the benefits from listing of Equity Shares on the BSE SME.

Read More: List of Upcoming SME IPOs

Magenta Lifecare IPO Review (Apply)

FinancialsDecember 31, 2023March 31, 2023March 31, 2022March 31, 2021
EBITDA (₹ in Lakhs)95.2587.21106.31104.51
EBITDA Margin (%)15.83%9.62%11.50%10.83%
PAT (₹ in Lakhs)24.3624.5518.8919.44
PAT Margin (%)4.05%2.71%2.04%2.02%
EPS (in ₹)0.500.530.440.53
ROE (%)5.62%5.56%7.49%14.60%
ROCE (%)13.41%11.86%8.95%7.64%
RONW (%)3.84%4.71%5.22%13.60%
  • Magenta Lifecare company has an EBITDA of 95.25 in the last 9 Months which is increased from 87.21 of previous year.
  • EBITDA Margin % is also increased from 9.62 to 15.83% in the last nine months.
  • PAT Margin% is also increased from 2.71 to 4.05%.
  • ROE % is almost same around 5.62% as that of 5.56 of previous year.
  • ROCE % is also increased around 1.5% in the last 9 Months.
  • RONW % is 3.84% in 9 months.

After thorough review of Magenta Lifecare Limited Company Financial Stats of Previous Years, Our Review for this IPO is you can Apply For this IPO on the first day to increase your chances of Allotment. Company has performed constant in the previous year and GMP of Magenta Lifecare is also increasing, which shows Company Strength in the market.

FAQ’s Related to Magenta Lifecare IPO

  1. From Which Date Magenta Lifecare IPO will open?

    Magenta Lifecare IPO will open from Wednesday, 05 June, 2024.

  2. What is the last date to apply for the Mandate of Magenta Lifecare IPO?

    Magenta Lifecare IPO last date to apply for the Mandate is Friday, 07 June, 2024.

  3. What is the percentage of Shares offered to Retail Investors in Magenta Lifecare IPO?

    In Magenta Lifecare IPO, Retail Investors are offered 50% of Total Shares, Other Investors are offered remaining 50%.

  4. What is the allotment date of Magenta Lifecare IPO?

    Magenta Lifecare IPO Allotment date is Monday, 10 June, 2024.

  5. When Is the Magenta Lifecare Limited Company Incorporated?

    Magenta Lifecare Limited Company is Incorporated in August 04, 2015 with the name “Magenta Lifecare Private Limited” and later in June 19, 2023, they changed to “Limited” From “Private Limited”.

  6. Can I submit multiple applications for Magenta Lifecare IPO from different Apps?

    No, You can not submit multiple applications From different apps using same PAN card. If you do so, all of your applications will be cancel.

How You Can Apply For Magenta Lifecare Limited IPO?

  • Open a DEMAT account prior to applying for the Magenta Lifecare SME IPO.
  • Use apps like Groww, Paytm Money, Angel One, Upstox, and Zerodha on your smartphone to open a DEMAT account online.
  • Once your DEMAT account has been created, open the app and choose the IPO section.
  • Choose the Magenta Lifecare Limited IPO and click Apply to submit your mandate request.
  • Depending on which option is displayed in your application, enter the quantity of shares or lot size that you are interested in applying for.
  • After you’ve determined how much to bid, submit your IPO application. You should submit your application at the maximum price, also known as the cutoff price.
  • Then select “Continue”. You will see a new screen asking to add your UPI ID. Kindly enter your UPI ID there.
  • Following the submission of an IPO application, you will shortly see a mandate request on your UPI platform. It sometimes takes more than an hour. Thus, kindly have patience and don’t worry.
  • Once a mandate has been obtained, click Accept Mandate in the UPI App. Next, type the mandate amount and your UPI Pin, then hit Enter.
  • Upon approval of the mandate, the Bank will retain the IPO Amount until the day on which refunds start.
  • Money will be permanently taken out of your bank account on Monday, June 10, 2024, in the event that you are allotted shares for the Magenta Lifecare Initial Public Offering (IPO).

Will you submit an application for the IPO of Magenta Lifecare Limited Company? Kindly feel free to share your thoughts in the space provided below! Your comments can also benefit other users. Keep Reading & Keep Investing !!

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