Mumbai: Magenta Lifecare IPO has received a tremendous response from bidders. Investors have gone havoc as they have subscribed almost 115 times its total size of Rs 7 crore so far. June 7 is the last date to subscribe for the issue.
Magenta Lifecare IPO Subscription Status
According to the Bombay Stock Exchange (BSE) data, the stake sale process of the Gujarat-based mattress and pillow manufacturer was subscribed 115 times by day three on Friday, June 07, 2024. The total number of shares on offer is 20 lakh. By day three, investors had made a bid for 23.02 crore shares.
Magenta Lifecare IPO Review
Investment advisory firm, Mantri Finmart, founder, Arun Mantri, said, “If somebody wants to take risk then he can invest in this IPO.” However, the research analyst abstained from further comments as his firm does not cover SME IPOs.
Magenta Lifecare IPO GMP Today
According to the BSE data, its GMP hovered around Rs 25 on day three of the stake sale process. This signified that the shares could have around 71 per cent listing gains.
Magenta Lifecare IPO Allotment Date
The shares are expected to be allotted to the bidders on Monday, June 10, 2024. Investors will get credit of shares on the following day i.e. on June 11. For those who wouldn’t get shares, their refund initiation process would commence on this date only. The company’s shares are expected to be listed on Wednesday, June 12, 2024.
Where can you check the allotment status?
Investors can check the Magenta Lifecare IPO allotment status on the company’s registrar website “https://ipo.cameoindia.com/” and also on the NSE website “https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids”
Magenta Lifecare IPO Details
Magenta Lifecare IPO commenced for subscription on Wednesday, June 5, 2024 and would wind up on Friday, June 7. The issue price has been fixed at Rs 35 apiece. The IPO size is Rs 7 crore. Investors can bid for a minimum of 4,000 shares in a single lot and in multiples thereof. While the maximum number of shares for which bids can be placed is 18.96 lakh.
What does the company do?
According to the company’s Red Herring prospectus (RHP) filed with the Securities & Exchange Board of India (Sebi), the firm is into the manufacture of foam-based products such as mattresses and pillows. The company’s products are marketed in India under the brand name “Magenta”.
(Disclaimer: Arun Mantri is a SEBI registered investment advisor. This article is only meant to provide information. News9live.com does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
Magenta Lifecare Limited IPO expected listing date is Wednesday, June 12, 2024. Investors can check allotment status from Monday, June 10, 2024. Magenta Lifecare Limited IPO GMP is going strong in the grey market. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
