Magson Retail And Distribution Limited IPO is set to launch on 23 June, 2023. The company is involved in the retail and distribution business of Frozen food, Gourmet, and specialty foods.
Its product chain includes Frozen food veg and Non-Veg, Exotic Vegetables and fruits, Premium Cheese and Dairy products, Imported and luxury chocolates, Ambient products, Imported packaged products etc. It has a total of 26 retail stores out of which 16 are managed by the company itself. Its stores are registered under the name Magson. Its stores are located in prominent cities like Ahmedabad, Surat, Anand, Udaipur, Gandhinagar, Thane, Janagar, Gandhidham etc. The coined store space is close to 30000 sq ft.
Magson Retail And Distribution Limited IPO DETAILS
Magson Retail And Distribution Limited IPO is set to launch on 23 June, 2023. The subscription timeline extends till 27 June, 2023. The size for the IPO is 13.74 Crore Rs. Shares issued through fresh issue mode are worth 13.74 Crore Rs. No Shares are issued through offer for sale mode. The lot size is 2000 shares and the price is 65 Rs per share. The company is going to get listed at NSE SME. The face value per share is Rs.10 and this is a Fixed Price issue. The registrar for the company is BigShare Services Private Limited.
Tabular Description of Magson Retail And Distribution Limited IPO
| IPO OPENING DATE | 23 June, 2023 |
| CLOSING DATE FOR IPO | 27 June, 2023 |
| ISSUE TYPE | Fixed Price Issue |
| Face Value per share | 10 Rs. per share |
| IPO price band | 65 Rs. per share |
| LOT SIZE | 2000 shares |
| MINIMUM ORDER QUANTITY | 2000 shares |
| ISSUE SIZE | 13.74 Crore Rs. |
| OFFER FOR SALE | No shares offered through offer for sale mode |
| FRESH ISSUE | 13.74 Crore Rs. |
| LISTING AT | NSE SME |
| LISTING DATE | 6 July, 2023 |
Magson Retail And Distribution Limited IPO : IMPORTANT DATES
| IPO OPENING DATE | 23 June, 2023 |
| CLOSING DATE FOR IPO | 27 June, 2023 |
| IPO ALLOTMENT DATE | 3 July, 2023 |
| REFUNDS | 4 July, 2023 |
| DEMAT A/C CREDITED ON | 5 July, 2023 |
| IPO LISTING DATE | 6 July, 2023 |
Magson Retail And Distribution Limited IPO begins for subscription from 23 June, 2023. The IPO subscription would continue till 27 June, 2023. The allotment status for the shareholders who applied would come on 3 July, 2023. The refunds for the ones who did not get allotment would be initiated on 4 July, 2023. The DEMAT accounts of shareholders would be credited on 5 July, 2023. The listing of the company would be completed on 6 July, 2023.
Magson Retail And Distribution Limited IPO : Lead Managers
The lead managers are :
- ISK Advisors Private Limited
The minimum lot size for the company is decided at 2000 shares. This holding accounts to 130000 Rs.. The maximum lot size is decided at 4000 shares (HNI). This amounts to 260000 Rs.. Hence the company’s final holdings would be set as :
| Shares | Amount | |
| Minimum | 2000 shares | 130000 Rs. |
| Maximum | 4000 shares | 260000 Rs. |
OBJECTIVES FOR THE IPO
- IPO proceeds would be used for general corporate purposes.
- The company will use the IPO money for expanding its business.
- The company’s money will be used for further working capital requirements.
COMPANY FINANCIALS
| Particularly (in Lakh Rs.) | 2020-21 | 2021-22 | 2022-23 |
| ASSETS | 1283 | 1495 | 1999 |
| Revenue | 5358 | 5556 | 6301 |
| PAT | 182 | 223 | 252 |
Magson Retail And Distribution Limited had an asset base of 1283 Lakh Rs in 2021 which increased to 1495 Lakh Rs in 2022 and 1999 Lakh Rs in 2023. The revenue of the firm was 5358 Lakh Rs in 2021 which increased to 5556 Lakh Rs in 2022 and 6301 Lakh Rs in 2023. The profit of the firm was 182 Lakh Rs in 2021, 223 Lakh Rs in 2022 and 252 Lakh Rs in 2023.
PROS
- The company has a total of 26 retail stores out of which 16 are managed by the company itself.
- Its product chain includes Frozen food veg and Non-Veg, Exotic Vegetables and fruits, Premium Cheese and Dairy products, Imported and luxury chocolates, Ambient products, Imported packaged products etc.
- Its stores are registered under the name Magson. Its stores are located in prominent cities like Ahmedabad, Surat, Anand, Udaipur, Gandhinagar, Thane, Janagar, Gandhidham etc. The coined store space is close to 30000 sq ft.
CONS
- The company works into a very competitive segment.
Magson Retail And Distribution Limited IPO Application Process with Zerodha
It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :
- Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
- Click the Magson Retail And Distribution Limited IPO button and press the BID button.
- Entering the details asked for like UPI ID, Quantity and price.
- Submit the application form for the IPO.
- Visiting the application of UPI for approving the transaction.
Now, applying for an IPO online is possible with most of the Discount and online brokers.
