MAGENTA LIFECARE LIMITED

05 Jun 2024 - 07 Jun 2024 Individual Category SME BSE

Min Investment

₹140000

Price Band

₹35

Issue Size

20 lakhs
Equity Shares

Lot Size

4000

IPO Dates
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05 Jun 2024

Open Date

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07 Jun 2024

Close Date

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10 Jun 2024

Allotment Date

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12 Jun 2024

Listing Date

Magenta Lifecare IPO is open for subscription starting Wednesday, June 5, 2024, and closing on Friday, June 7, 2024. The price of this upcoming IPO is decided at Rs 35 per share. The minimum lot size set for the retail category is 4000 shares. Meanwhile, the minimum lot size for the HNI category is 2 lots consisting of 8000 shares. The minimum investment required for retail category investors is Rs 1,40,000 (35 x 4000 shares). However, for the HNI category, the minimum investment amount required is Rs 2,80,000 (35 x 8000 shares). Magenta Lifecare IPO is a fixed price issue of Rs 7.00 crores. This upcoming IPO is an entirely fresh issue of 20 lakh equity shares. The allotment for this new IPO is expected to be finalised on Monday, June 10, 2024. Magenta Lifecare IPO will be listed on NSE SME, and the listing date is fixed on Wednesday, June 12, 2024. The book-running lead manager of Magenta Lifecare IPO is Fedex Securities Private Limited. The registrar for this IPO is Cameo Corporate Services Limited. The market maker of this issue is Sunflower Broking.

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About Magenta Lifecare Limited

Magenta Lifecare Limited, incorporated in 2015, is engaged in manufacturing mattresses and pillows. They offer foam-based products under the brand name "Magenta" in India. The company's  product portfolio includes memory foam, latex-based, bonded mattresses, pocketed springs, etc. The portfolio also includes memory foam pillows, moulded memory foam pillows, moulded contour foam pillows, etc. The company's manufacturing facility is located in Gujarat, India. The installed capacity for the current manufacturing mattresses is 60,000 nos and 70,000 nos pillows.  The company believes its success is attributable to the quality of products, spread across retail, hotels, and institutions. Driven by innovation, they strive to introduce new and innovative products continuously with the help of their team. They also believe that their product offering is across the section of society from value-added products to premium segments. Their thoughtfully designed products provide comfort with ergonomic design, thermal comfort, pressure relief, motion isolation, easy position realignment, and long-term durability. Magenta Lifecare has developed a distributor and dealer network across multiple states in India. They sell their products through offline channels of multi-brand outlets and a network of dealers, as well as through online e-commerce platforms. 

Founded

2015

Managing Director

Divyesh Modi

Parent Organization

IPO Objectives

The funds raised through this public issue will be used to fund the company's day-to-day capital requirements. The remaining money will be used to fulfil general corporate purposes. 

Company Promoters

Subscription Details

Investor Category Subscription (times)
Qualified Institutions 0
Non-Institutional Buyers 0
bNII (bids above ₹10L) 0
sNII (bids below ₹10L) 0
Retail Investors 0
Employees 0
Others 0
Total 0
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