Magenta Lifecare IPO Allotment Update: With an overwhelming response from investors during the bidding period from June 5 to June 7, all eyes are now on the allotment process for Magenta Lifecare. The allotment for the Magenta Lifecare IPO is expected to be finalized today. Investors can track their allotment status through the registrar, Cameo Corporate Services, or the BSE website.
Given the oversubscription in the retail category, shares will be allocated to retail individual investors (RIIs) on a proportional basis. For those who do not receive an allotment, Magenta Lifecare will commence the refund process for the application money on June 11, 2024.
Simultaneously, allotted shares will be credited to investors’ demat accounts on the same day following the refund process. Magenta Lifecare is an SME IPO, with shares slated to be listed on the BSE SME platform, tentatively scheduled for June 12, 2024.
Steps to check the Magenta Lifecare IPO allotment status on the registrar’s website:
- Visit the registrar’s website.
- Click on ‘Company Selection’ and then select the IPO name.
- Enter your PAN, application number, DP, client ID, or account number (IFSC).
- Click on ‘Search’.
Steps to check the IPO allotment on the BSE website:
- Visit the allotment page on BSE’s official website.
- Under ‘Issue Type’, select ‘Equity’.
- Choose the IPO from the drop-down option under ‘Issue Name’.
- Enter the PAN or application number.
- Click on ‘I am not a robot’ to confirm your identity, then hit the ‘Submit’ button.
The allotment status will appear on your screen.
About Magenta Lifecare:
Magenta Lifecare is a manufacturer of foam-based products such as mattresses and pillows, marketed under the brand “Magenta” in India. Its product offerings include a wide range of mattresses and pillows catering to retail, hotel, and institutional customers.
The company aims to increase its market share in India’s growing mattress market by leveraging its competitive strengths.
Magenta Lifecare IPO Details:
The Magenta Lifecare IPO is a book-built offer with a size of ₹7 crore, consisting of 20 lakh newly issued shares. Fedex Securities Pvt. Ltd. is the bookrunner and lead manager, with Sunflower Broking designated as the market maker for the IPO.
The company plans to utilize the net proceeds from the issue towards funding its working capital requirements and general corporate purposes.
Magenta Lifecare IPO Subscription Status:
The IPO saw robust demand, being subscribed over 983 times, attracting bids worth ₹6,524 crore. The retail category was subscribed 778 times, while the NII section saw a subscription rate of 1145 times.
