Magson Retail And Distribution IPO GMP, Price, Dates & Allotment Details 2023
Introduction
The Magson Retail And Distribution IPO will open on June 23 and close on June 27, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 13.74 crores through this public offering, consisting of 21.14 lakhs shares with a face value of ₹ 10 each, which will be issued at a price of ₹ 65 per share.
Magson Retail And Distribution Limited (“the Company”)
Magson Retail And Distribution Limited were incorporated in 2018. The company is engaged in the retail and Distribution business of gourmet, frozen food and speciality foods. The company has its corporate office located in Ahmedabad, Gujarat.
Following is the detail about the company’s retail and distribution business.
- Retail Business: Currently, the company operates 26 retail stores/outlets of which 16 are operated by the company and 7 are operated by franchise owners and 3 stores are operated under 2 joint ventures, MRDL operates all its stores under the registered brand name “MagSon”.
- Business under own Brand RF Gourmet: In December 2021 the company launched Rf Gourmet our own brand having a range of premium products.
- Distribution Business: With regard to the distribution business of MRDL, the company has on rent a warehouse of more than 14,000 sq. ft. in Ahmedabad, Gujarat from where it manages its inventory.
Product Offerings
The company has a wide range of product offerings, with over 3000 SKUs. MRDL’s product offerings can be divided into the following categories:
- Frozen food Vegetarian and non-vegetarian
- Premium cheese and dairy products
- Exotic vegetables and fruits
- Ambient Products
- Imported or luxury chocolates
- Imported packaged products
Objects of the Issue,
The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:
- To set up new organisations and stores under a franchise model and tie up with major suppliers,
- Working capital requirement, and
- General corporate purpose.
Financial Highlights (Restated)
| Particulars | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|
| Net Worth | 926 | 574 | 351 | 169 |
| Total Assets | 2,000 | 1,495 | 1,284 | 833 |
| Reserve & Surplus | 353 | 573 | 350 | 168 |
| Total Borrowings | 322 | 345 | 387 | 354 |
| Total Revenue | 6,301 | 5,567 | 5,359 | 3,241 |
| Profit After Tax | 252 | 223 | 182 | 166 |
IPO details
As per the DRHP filed with SEBI, 21.14 lakh shares will be offered as a fresh issue in the NSE SME segment. The face value of the shares is ₹ 10. The market maker would receive 106,000 shares of the offering. While Isk Advisors Pvt Ltd will be the lead manager for the IPO, Bigshare Services Pvt Ltd will be the registrar. It will be a Fixed Price Issue IPO, so the price at which the securities are offered or allotted is known in advance to the investor.
| Issue Type | Fixed Price Issue IPO |
| IPO Price | ₹ 65 per share |
| Face Value | ₹ 10 per share |
| Market Lot | 2,000 shares |
| Issue Size | 2,114,000 shares (aggregating up to ₹ 13.74 crores) |
| Fresh Issue | 2,114,000 shares (aggregating up to ₹ 13.74 crores) |
| Listing At | NSE SME |
| Company Promoters | Mr Rajesh Emmanuel Francis and Mr Manish Shivnarayan Pancholi |
Market Maker
| Market maker | Sunflower Broking |
| Market maker portion | 106,000 shares |
IPO Reservation
| Categories | No. of shares offered |
| Retail shares offered | Not less than 50% of the offer |
GMP: Magson Retail And Distribution IPO
GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.
Tentative Dates: Magson Retail And Distribution IPO
The issue opens for subscription on June 23, 2023, and closes for subscription on June 27, 2023 (both days inclusive). The basis of allotment will be finalised on July 3, 2023, and the refunds will be initiated on July 4, 2023. In addition, the demat credits are expected to happen on July 5, 2023, and the stock will be listed on the NSE SME on July 6, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.
| Opening Date | June 23, 2023, |
| Closing Date | June 27, 2023 |
| Basis of Allotment | July 3, 2023 |
| Initiation of Refunds | July 4, 2023 |
| A credit of shares to Demat A/c | July 5, 2023 |
| Listing Date | July 6, 2023 |
Lot Size
The lot size of the Magson Retail And Distribution IPO is 2,000 shares. A retail-individual investor can apply for up to 1 lot, i.e. 2,000 shares of ₹ 130,000.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 2,000 | ₹ 130,000 |
| Retail (Maximum) | 1 | 2,000 | ₹ 130,000 |
| HNI (Minimum) | 2 | 4,000 | ₹ 260,000 |
Promoters Holdings
| Pre-issue Shares Holdings | 95.89% |
| Post-issue Shares Holdings | 70.06% |
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP |
| Company Contact Information | Magson Retail And Distribution Limited 204-B, Primate Complex, Opp. Mother Milk Palace, Nr. Judges Bungalows Cross Roads, Bodakdev, Ahmedabad – 380015 Phone: +91 9978607507 Email: cs.magson@gmail.com Website: www.magson.in |
| IPO Registrar | Bigshare Services Pvt Ltd Phone: +91-22-6263 8200 Email: ipo@bigshareonline.com Website: https://www.bigshareonline.com/ |
| IPO Lead Manager(s) | Isk Advisors Pvt Ltd |
FAQs
What is Magson Retail And Distribution’ IPO price?
The Magson Retail And Distribution IPO price is ₹ 65 per share.
What minimum lot size can retail investors subscribe to?
The minimum investment size is one lot for retail investors. One lot of the Magson Retail And Distribution IPO contains 2,000 shares of ₹ 130,000.
When will the Magson Retail And Distribution IPO allotment be available?
The finalisation of the basis of allotment for the Magson Retail And Distribution IPO will be done on July 3, 2023, and the allotted shares will be credited to your demat account by July 5, 2023. Check the Magson Retail And Distribution IPO allotment status.
When will the Magson Retail And Distribution IPO list on exchanges?
The Magson Retail And Distribution IPO shares listing date is July 6, 2023.
