Hot Pursuit     12-Jun-24
BSE SME Magenta Lifecare jumps on debut
Shares of Magenta Lifecare were quoting at Rs 47.25 on the BSE, a premium of 35% compared with the issue price of Rs 35.
The scrip was listed at Rs 45, a premium of 28.57% compared with the initial public offer (IPO) price. The stock is currently frozen in its upper limit of 5% over its listing price.

The counter hit a high of Rs 47.25 and a low of Rs 45. About 9.56 lakh shares of the company changed hands at the counter.

Magenta Lifecare's IPO was subscribed 932.11 times. The issue opened for bidding on 5 June 2024 and it closed on 7 June 2024. The price of the IPO was fixed at Rs 35 per share. The equity shares will list on BSE's SME platform.

The IPO comprised fresh issue of 20,00,000 shares. The promoter and promoter group shareholding diluted to 59.59% from 84.06% pre-IPO.

The company intends to utilize the net proceeds for funding the incremental working capital requirements of company and for general corporate purpose.

Magenta Lifecare are manufacturer of foam-based product such as mattresses and pillows which is marketed under its brand “Magenta” in India. Its product offerings include wide range of mattresses such as memory foam, latex based, bonded mattresses, pocketed spring etc. and pillows such as memory foam pillow, molded memory foam pillow, molded contour foam pillow etc. The company’s manufacturing facility is located at Vadodara, Gujarat, India. The company's overall staff strength is 41 employees.

The company recorded revenue from operations of Rs 6.01 crore and net profit of Rs 0.24 crore for the period as on 31 December 2023.

Previous News
  BSE SME Magenta Lifecare jumps on debut
 ( Hot Pursuit - 12-Jun-24   14:22 )
  BSE SME Magenta Lifecare's IPO ends with subscription of 932 times
 ( SME Updates - IPO News 10-Jun-24   11:45 )
  Shares of Magenta Lifecare list today
 ( Corporate News - 12-Jun-24   08:56 )
  Magenta Lifecare schedules board meeting
 ( Corporate News - 27-Jun-24   09:29 )
  BSE SME IPO of Magenta Lifecare subscribed 23.2 times
 ( SME Updates - IPO News 05-Jun-24   17:08 )
  Magenta Lifecare revises board meeting date
 ( Corporate News - 03-Jul-24   10:08 )
Other Stories
  Lupin receives EIR from USFDA for Dabhasa facility
  13-Jul-24   16:48
  RVNL secures LoA worth Rs 132 cr from Central Railway
  13-Jul-24   16:38
  EMS bags order worth Rs 141-cr from Uttarakhand Power Corp.
  13-Jul-24   16:14
  Avenue Supermarts Q1 PAT climbs 17% YoY to Rs 774 cr in FY25
  13-Jul-24   16:00
  Sunteck Realty pre-sales climbs 30% YoY to Rs 502 cr in FY25
  13-Jul-24   15:32
  Fitch Ratings revises outlook on ratings of Tata Steel to 'negative'
  13-Jul-24   14:46
  5Paisa Capital Q1 PAT jumps 38% YoY in FY25
  13-Jul-24   14:39
  HCL Tech records PAT of Rs 4,257 crore in Q1; EBIT margin at 17.1%
  13-Jul-24   11:59
  IREDA Q1 PAT rises 30% YoY to Rs 384 cr in FY25
  13-Jul-24   09:00
  GTPL Hathway slides after Q1 PAT drops 60% YoY to Rs 14 cr in FY25
  12-Jul-24   15:40
Back Top