IPO Details

Bidding Dates

22 Jun '23 - 26 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 22, 2023

IPO Closing Date

Jun 26, 2023

Basis of Allotment

Jul 2, 2023

Initiation of Refunds

Jul 3, 2023

Credit of Shares to Demat

Jul 4, 2023

IPO Listing Date

Jul 5, 2023

UPI Mandatory Expiry Date

Jun 26, 2023

IPO Subscription Details

DateNIIRetailTotal

Day 1Jun 22, 2023

0.45 0.65 0.55

Day 2Jun 25, 2023

1.02 2.36 1.69

Day 3Jun 26, 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
  1. 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.

  2. The company has its own gourmet food brand, RF Gourmet.

  3. The company is in plans to expand the number of retail stores, which will help them to increase its revenue and profits.

Risks

3
  1. 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.

  2. 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.

  3. The company is not as well-known as larger companies, which could make it more difficult for it to raise capital in the future.

  • How to Apply in IPO
  • How to Check IPO Allotment Status

Login to Angel One App / Website & click on IPO

Select desired IPO & tap on "Apply"

Enter UPI ID, set quantity/price & submit

Accept mandate on the UPI app to complete the process

Login to Angel One App / Website

Choose IPO section on Home Page

Click IPO Orders

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MagSon Retail And Distribution Ltd IPO FAQs

What is MagSon Retail And Distribution Limited's IPO?

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.

When will MagSon Retail And Distribution Limited's IPO be allotted?

The Basis of Allotment will happen on Monday, 3rd July 2023.

When will MagSon Retail And Distribution Limited's IPO open for subscription?

The IPO subscription window will open on 23rd June 2023.

What minimum lot size can retail investors subscribe to?

Retail investors can apply for a minimum of one lot, which consists of 2000 shares.

When will MagSon Retail And Distribution Limited list on exchanges?

MagSon Retail And Distribution Ltd IPO will list on the NSE exchange on Thursday, 6th July 2023.

How do I check the allotment status of the MagSon Retail And Distribution Limited IPO?

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’

What would be the listing gains on the MagSon Retail And Distribution Limited IPO?

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.

I have finished the application process for the MagSon Retail And Distribution Limited IPO, but the funds still need to be debited. What is the reason?

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.

How do I approve the UPI mandate request for MagSon Retail And Distribution Limited's IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of MagSon Retail And Distribution Limited using one PAN?

You can submit only one application using your PAN card.