Magenta Lifecare IPO Allotment Update: After receiving a robust response from investors during the bidding period from June 5 to June 7, attention now turns to the allotment procedure for Magenta Lifecare.
The allotment for the Magenta Lifecare IPO is expected to be finalised today. Investors can monitor their allotment status through the registrar, Cameo Corporate Services, or the BSE website.
With 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.
Concurrently, 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.
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Steps to check the Magenta Lifecare IPO allotment status on the register’s website
If you have applied for the Magenta Lifecare IPO, you can check your allotment status on the website of the IPO registrar, Cameo Corporate Services.
You can check the Magenta Lifecare IPO allotment status at this link: https://ipo.cameoindia.com/
Step 1: Go to the registrar’s website.
Step 2: Click on ‘Company Selection’ and then select the IPO name.
Step 03: Now, enter your PAN, application number, DP, client ID, or account number (IFSC).
Step 04 Click on ‘Search’.
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Steps to check the IPO allotment on the BSE website
Step 1: Visit the allotment page on BSE’s official website: https://www.bseindia.com/investors/appli_check.aspx
Step 2: Under ‘Issue Type’, select ‘Equity’
Step 3: Choose the IPO from the drop-down option under ‘Issue Name’.
Step 4: Enter the PAN, or application number.
Step 5: 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
The company is a manufacturer of foam-based products such as mattresses and pillows, which are marketed under the brand “Magenta” in India. Its product offerings include a wide range of mattresses such as memory foam, latex-based, bonded mattresses, pocketed springs, and pillows such as memory foam pillows, molded memory foam pillows, molded contour and foam pillows. Its customers spread across retail, hotels, and institutions.
The company aims to increase its market share in India’s growing mattress market and believes it is uniquely positioned to capitalise on India’s growth opportunities 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 of the Magenta Lifecare IPO. Sunflower Broking is designated as the market maker for the IPO.
The company proposes to utilise the net proceeds from the issue towards funding its working capital requirements and general corporate purposes.
Magenta Lifecare IPO subscription status
The Magenta Lifecare IPO saw robust demand, being subscribed to over 983 times. The SME IPO received 1,86,41,24,000 share applications against the 1,896,000 shares offered. In monetary terms, the IPO attracted bids worth ₹6,524 crore.
The retail category was subscribed to 778 times, bidding for 73,79,32,000 shares against the offered 948,000 shares. The NII section received bids for 1,08,61,96,000 against the allocated 948,000 shares, resulting in a subscription rate of 1145 times.
Disclaimer: We advise investors to check with certified experts before taking any investment decisions.
