IPO Details
Bidding Dates
23 Jun '23 - 27 Jun '23
Minimum Investment
₹130,000 / 1 Lots (2000 Shares)
Price Range
₹65
Maximum Investment
₹130,000 / 1 Lots (2000 Shares)
Retail Discount
Not Applicable
Issue Size
₹13.74 Cr
Investor category and sub category
Non-Institutional Investors | Retail Individual Investors |IPO Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
Jun 23, 2023
IPO Closing Date
Jun 27, 2023
Basis of Allotment
Jul 3, 2023
Initiation of Refunds
Jul 4, 2023
Credit of Shares to Demat
Jul 5, 2023
IPO Listing Date
Jul 6, 2023
UPI Mandatory Expiry Date
Jun 27, 2023
IPO Subscription Details
| Date | NII | Retail | Total |
|---|---|---|---|
Day 1Jun 23, 2023 |
0.45 | 0.65 | 0.55 |
Day 2Jun 26, 2023 |
1.02 | 2.36 | 1.69 |
Day 3Jun 27, 2023 |
3.29 | 5.59 | 4.44 |
IPO Subscription Status Live
| Investor Category | Subscription (Times) |
|---|---|
| Non-Institutional Buyers | 3.29 |
| Retail Investors | 5.59 |
| Total | 4.44 |
About MagSon Retail And Distribution Ltd
MagSon Retail and Distribution Limited (MRDL) was established in 2009. It provides premium quality gourmet, frozen and global food products in India. MagSon has more than 26 retail stores, of which 16 are operated by them, 7 are run by franchise owners and the remaining 3 stores are run under 2 joint ventures, MRDL operates all its stores under the registered brand name “MagSon”.
They have a 14,000 sq. ft. warehouse in Ahmedabad to manage their inventory. MagSon gets 75% of its products from manufacturers. This eliminates the need for middlemen and enables them to make high margins. MagSon also launched its own brand RF Gourmet in December 2021, to provide various edible products like Eggs, Chicken Seekh Kebabs, French Fries and more. They also have a presence in e-commerce and online shopping.
MagSon Retail And Distribution Limited IPO Details
MagSon Retail and Distribution is a 100% fresh IPO worth Rs. 13 crore. The issue comprises 21,14,000 shares and is priced at Rs. 65 apiece. Retail investors can bid for the MagSon Retail And Distribution Limited IPO that will open on 23rd June 2023. MagSon Retail And Distribution Limited’s IPO will list on the NSE exchange on 6th July 2023.
MagSon Retail And Distribution Limited IPO Objectives
The objectives of MagSon Retail And Distribution Limited's IPO are listed below:
- To start new stores, storage facilities and backward integration of business by food processing and packing under their own brand.
- To meet the working capital requirements.
- For general corporate expenses.
- To meet the expenses of the issue.
Peer Details
Retail supermarkets like Big Bazaar, D-Mart, Star Bazaar and Reliance Retail are MagSon’s competitors. Also, along with the e-commerce companies like Amazon, Big Basket, Jio Mart, Blinkit, and Swiggy Instamart, unorganised retail kirana and gourmet shops are also considered their competitors.
Highlights of MagSon Retail And Distribution Ltd
- MagSon Retail And Distribution Ltd is one of the largest chains of frozen and gourmet foods in Gujarat.
- They have 26 retail stores, which include 7 franchise stores.
- 75% of their products are procured directly from the manufacturers avoiding middlemen costs.
Company Financials
| Financial year | As of 31st October 2022 (Rs. lakhs) | Year ending on 31st March 2022 (Rs. lakhs) | Year ending on 31st March 2021 (Rs. lakhs) |
|---|---|---|---|
| Total Revenue | 3,635.30 | 5,554.38 | 5,356.12 |
| Profit After Tax (PAT) | 125.43 | 223.36 | 181.75 |
| Net Worth | 699.58 | 574.06 | 350.80 |
| Total Borrowings | 546.62 | 344.72 | 386.60 |
Know before investing
Strengths
3-
The company is engaged in providing premium, gourmet and frozen foods. 75% of their products are procured directly from manufacturers, which cuts down middlemen costs.
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The company has its own gourmet food brand, RF Gourmet.
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The company is in plans to expand the number of retail stores, which will help them to increase its revenue and profits.
Risks
3-
The competition in the food industry is huge. There are several big players, like Big Bazar, Reliance Retail, etc. in the market, which can be a threat.
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The company has its own gourmet food brand, RF Gourmet. Increased competition in the frozen food market and changes in laws in the retail sector could be a threat.
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The company is not as well-known as larger companies, which could make it more difficult for it to raise capital in the future.
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MagSon Retail And Distribution Ltd IPO FAQs
The MagSon Retail And Distribution Ltd IPO contains 100% fresh IPO worth Rs. 13 crore. The issue comprises 21,14,000 shares and is priced at Rs. 65 per share. The listing will open on 23rd June 2023.
The Basis of Allotment will happen on Monday, 3rd July 2023.
The IPO subscription window will open on 23rd June 2023.
Retail investors can apply for a minimum of one lot, which consists of 2000 shares.
MagSon Retail And Distribution Ltd IPO will list on the NSE exchange on Thursday, 6th July 2023.
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Validate with an OTP
- Enter your application number, DP ID, and PAN number into the app
- Click on ‘Submit’
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange, which is Thursday, 6th July 2023, for MagSon Retail And Distribution Ltd.
The bank will only block the amount initially in your account. Under the new system, the money isn’t debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
