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Magson Retail And Distribution IPO GMP, Price, Dates & Allotment Details 2023

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.

  1. 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”.
  2. Business under own Brand RF Gourmet: In December 2021 the company launched Rf Gourmet our own brand having a range of premium products.
  3. 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:

  1. Frozen food Vegetarian and non-vegetarian
  2. Premium cheese and dairy products
  3. Exotic vegetables and fruits
  4. Ambient Products
  5. Imported or luxury chocolates
  6. Imported packaged products

Objects of the Issue,

The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:

  1. To set up new organisations and stores under a franchise model and tie up with major suppliers,
  2. Working capital requirement, and
  3. General corporate purpose.

Financial Highlights (Restated)

ParticularsFY 2022-23FY 2021-22FY 2020-21FY 2019-20
Net Worth926574351169
Total Assets2,0001,4951,284833
Reserve & Surplus353573350168
Total Borrowings322345387354
Total Revenue6,3015,5675,3593,241
Profit After Tax252223182166
(Amount in ₹ Lakhs)

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 TypeFixed Price Issue IPO
IPO Price₹ 65 per share
Face Value₹ 10 per share
Market Lot2,000 shares
Issue Size2,114,000 shares (aggregating up to ₹ 13.74 crores)
Fresh Issue2,114,000 shares (aggregating up to ₹ 13.74 crores)
Listing AtNSE SME
Company PromotersMr Rajesh Emmanuel Francis and Mr Manish Shivnarayan Pancholi

Market Maker

Market makerSunflower Broking
Market maker portion106,000 shares

IPO Reservation

CategoriesNo. of shares offered
Retail shares offeredNot 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 DateJune 23, 2023,
Closing DateJune 27, 2023
Basis of AllotmentJuly 3, 2023
Initiation of RefundsJuly 4, 2023
A credit of shares to Demat A/cJuly 5, 2023
Listing DateJuly 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.

ApplicationsLotsSharesAmount 
Retail (Minimum)12,000₹ 130,000
Retail (Maximum)12,000₹ 130,000
HNI (Minimum)24,000₹ 260,000

Promoters Holdings 

Pre-issue Shares Holdings95.89%
Post-issue Shares Holdings70.06%

Miscellaneous Information

Download Prospectus (PDF)IPO DRHP
Company Contact InformationMagson Retail And Distribution Limited
204-B, Primate Complex, Opp. Mother Milk Palace, Nr. Judges Bungalows Cross Roads,
Bodakdev, Ahmedabad – 380015
Phone: +91 9978607507
Email: [email protected]
Website: www.magson.in
IPO RegistrarBigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: [email protected]
Website: https://www.bigshareonline.com/
IPO Lead Manager(s)Isk Advisors Pvt Ltd

FAQs

The Magson Retail And Distribution IPO price is ₹ 65 per share.

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.

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.

The Magson Retail And Distribution IPO shares listing date is July 6, 2023.

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