Magson Retail and Distribution Ltd IPO Timeline

Magson Retail and Distribution Ltd IPO opens on 23-Jun-2023, and closes on 27-Jun-2023. The Magson Retail and Distribution Ltd IPO bid date is from 23-Jun-2023 to 27-Jun-2023. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Magson Retail and Distribution Ltd IPO Opening Date 23-Jun-2023
Magson Retail and Distribution Ltd IPO Closing Date 27-Jun-2023
Basis of Allotment 03-Jul-2023
Initiation of Refunds 04-Jul-2023
Credit of Shares to Demat 05-Jul-2023
Magson Retail and Distribution Ltd IPO Listing Date 06-Jul-2023

Magson Retail and Distribution Ltd IPO Lot Size

Magson Retail and Distribution Ltd IPO lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or 130000).

Application Lots Shares Amount
Minimum 1 2000 ₹130000
Maximum 1 2000 ₹130000

Magson Retail and Distribution Ltd IPO Details

Magson Retail and Distribution Ltd IPO Date 23-Jun-2023 to 27-Jun-2023
Magson Retail and Distribution Ltd IPO Face Value Shares of ₹10 per share
Magson Retail and Distribution Ltd IPO Price ₹65 per share
Magson Retail and Distribution Ltd IPO Lot Size 2000
Issue Size Shares of ₹10 (aggregating up to ₹13.74 Cr)
Fresh Issue Shares of ₹10 (aggregating up to ₹13.74 Cr)
Offer for Sale -
Issue Type Fixed Price - SME
Listing At NSE - SME
QIB Shares Offered -
Retail Shares Offered -
NII (HNI) Shares Offered -
Company Promoters Rajesh Emmanuel Francis, Manish Shivnarayan Pancholi, Jennifer Rajesh Francis.

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • 1 For opening new stores under franchise model
  • 2 Working capital requirement
  • 3 General corporate purpose

Company Financials

Magson Retail and Distribution Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
03-2024 31.29 66.29 2.81
03-2023 19.94 62.30 2.52
03-2022 14.95 55.67 2.23
Amount in ₹ Crore
  • Existing stores visibility & footsteps.
  • Good market prospects for retail business.
  • Experienced Promoters in retail business and a well-trained employee base.
  • Proposed franchise model with firm tie up with supply chain to get best possible low cost for products to be sold.
  • Optimal Utilization of Resources.
  • Unique Shopping Experience.
  • Wide Product Mix.
  • Strong Distribution Network.
  • Investment in Software/ technology/ Mobile App for online shopping.
  • Strong Marketing Strategy.
  • The Company is party to certain legal proceedings under Civil Laws and other Act/s. Any adverse decision in such proceedings may have effect on its business, results of operations and financial condition.
  • Some of the statutory approvals and property (ies) taken on lease by the Company are required to be transferred in the name of "Magson Retail and Distribution Ltd." from "Magson Retail and Distribution Pvt. Ltd.", pursuant to conversion from private limited to public limited company. Any failure to obtain and renew them or failure to transfer them in name of "Magson Retail and Distribution Ltd." in a timely manner may affect its business operations.
  • The company may face several risks associated with the setting up of its proposed new store under expansion plan, which could hamper the company growth, cash flows and business and financial condition.
  • If the company is unable to open new stores and franchises, its may not achieve its financial objectives.
  • The company is require certain approvals and licenses in the ordinary course of business and are required to comply with certain rules and regulations to operate the company business, and the failure to obtain, retain and renew such approvals and licenses in timely manner or comply with such rules and regulations or at all may adversely affect its operations.
  • The company has availed financing facility from HDFC bank aggregating to 1 Crore and has provided movable and personal guarantee of promoters.
  • The company is planning to increase 10 stores under franchise model.
  • The company third-party suppliers, on whom its relies for various / several products for the store, may fail to deliver raw material of sufficient quality or in a timely manner, which could adversely affect its reputation, net sales and profitability.
  • The company business derives a major portion of its revenue from retail customers and franchisees. The loss of customers or a significant reduction and sales of, or demand for its products from franchisees, may adversely affect its business, financial condition.
  • The company revenues and profits are difficult to predict and can vary significantly from period to period, which may impact its ability to pay dividend as well as cause the price of its Equity Shares to fluctuate.
  • The holding of Inventory is higher as compared to Total Sales.
  • The company lenders have charge over its movable and immovable assets in respect of finance availed by it.
  • Changes in marketing and sales like online and e marketing may affect its business.
  • The industry in which the company operate its need good number of skilled and unskilled staff to operate the company store and business.
  • Its efforts to protect the company intellectual property and to avoid infringing on the intellectual property rights of others may not be successful, which could affect the reputation of its brands and business operations.
  • Trade Receivables and Inventories form a substantial part of its current assets and net worth. Failure to manage its trade receivables could have an adverse effect on the company net sales, profitability, cash flow and liquidity.
  • The company business will suffer if its fail to keep pace with rapid changes in technology, product, demand & competition on which the company focus.
  • The company face competition in its business from organized and unorganized players, which may adversely affect its business operation and financial condition.
  • The company has not made any alternate arrangements for meeting shortfall in its fund requirements for the Objects of the Issue. Further its have not identified any alternate source of financing the 'objects of the Issue'. Any shortfall in raising / meeting the same could adversely affect its growth plans, operations and financial performance.
  • The deployment of the Net Proceeds from the Issue are based on management estimates and have not been independently appraised by any bank or financial institution and is not subject to any monitoring by any independent agency and the Company's management will have flexibility in utilizing the Net Proceeds from the Issue.
  • The company is dependent on third party transportation providers for the delivery of its raw material and Finished products. Accordingly, continuing increases in transportation costs or unavailability of transportation services for them, as well the extent and reliability of Indian infrastructure may have an adverse effect on its business, financial condition, results of operations and prospects.
  • Improper handling of the company products, or spoilage and damage to its products, could damage its reputation and may have an adverse effect on the company business, results of operations and financial condition.
  • The company Promoters play key role in its functioning and the company heavily rely on their knowledge and experience in operating its business and therefore, it is critical for the company business that its Promoters remain associated with it.
  • Following is the list of Owned Stores, Joint ventures and Franchisee.
  • The fund requirement mentioned as a part of the objects of the Issue is based on internal management estimates and has not been appraised by any bank or financial institution.
  • The Company is yet to set up organization for franchisee office this is involving new recruitment of experienced skilled persons and subordinate staff any delay in creating efficient organization for franchisee departments may adversely affect its projected business plans and profitability.
  • There is no monitoring agency appointed by the Company and the deployment of funds is at the discretion of its Management and the company Board of Directors, though it shall be monitored by its Audit Committee.
  • The company insurance coverage may not be adequate to protect it against all potential losses to which its may be subject to and this may have a material adverse effect on its business.
  • The company has in the past entered into related party transactions and may continue to do so in the future.
  • The company success largely depends on its ability to attract and retain its Key Managerial Personnel. Any loss of the company Promoters and Key Managerial Personnel could adversely affect its business, operations and financial condition.
  • In addition to normal remuneration, rent, /other benefits and reimbursement of expenses to Directors (including its Promoters) and Key Management Personnel are interested in the Company to the extent of their shareholding and dividend entitlement in the Company.
  • Certain unsecured loans availed by it from the company Promoter Directors and relative of Director may be recalled at any time. This may affect its business and financial conditions adversely.
  • The Company if not able to manage its growth or to successfully implement its business plan could have an effect on the company business, results of operations and financial condition.
  • The company Promoters and Promoter Group will continue to retain majority shareholding after the Issue, which will allow them to exercise significant influence and potentially create conflicts of interest.
  • Employee misconduct, errors or fraud could expose it to business risks or losses that could adversely affect the company business prospects, results of operations and financial condition.
  • If the company fail to maintain an effective system of internal controls, its may not be able to successfully manage, or accurately report, the company financial risks.
  • The company products are of perishable in nature which could lead to loss of inventories and could affect its profitability.
  • The company relies on top suppliers and customers for its revenue if it fails to do so may adversely affect.
  • The company is yet to identify locations of stores for which funds are raised.
  • The company could become liable to customers, suffer adverse publicity and incur substantial costs as a result of defects in its existing or proposed products which in turn could adversely affect the value of the company brand, and its sales could diminish if the company are associated with negative publicity.
  • Failure to manage its inventory could have an adverse effect on the compay net sales, profitability, cash flow and liquidity.
  • The company may not be able to sustain effective implementation of its business and growth strategies.
  • In the event there is any delay in the completion of the Issue, there would be a corresponding delay in the completion of the objects / schedule of implementation of this Issue which would in turn affect its revenues and results of operations.
  • The requirements of being a public listed company may strain its resources and impose additional requirements.
  • The Company has issued Shares to a non-promoter, public investor on 3rd March, 2023.
  • There are certain delayed-compliances noticed in statutory dues and tax payment.
    -

Magson Retail and Distribution Ltd IPO Promoter Holding

Pre Issue Share Holding 37.81%
Post Issue Share Holding 27.63%

Magson Retail and Distribution Ltd IPO Subscription Status (Bidding Detail)

The Magson Retail and Distribution Ltd IPO is subscribed 6.4475 times on Jun 27, 2023 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)

Category QIB NII Retail Employee Total
Subscription (times) - - - - 6.4475

Magson Retail and Distribution Ltd IPO Prospectus

Magson Retail and Distribution Ltd IPO Listing Date

Listing Date 06 Jul 23
BSE Script 78877
NSE Symbol MAGSON
Listing In NSE - SME
ISIN INE0O1S01012
IPO Price ₹65
Face Value ₹10

Magson Retail and Distribution Ltd IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91 - 22 - 62638200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com

Magson Retail and Distribution Ltd IPO Lead Manager(s)

  1. ISK Advisors Pvt Ltd

FAQs on Magson Retail and Distribution Ltd IPO

Magson Retail and Distribution Ltd IPO, which opens for subscription from 23-Jun-2023 to 27-Jun-2023 has an issue size of ₹13.74 crore. The issue type is book building issue.

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Magson Retail and Distribution Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

Magson Retail and Distribution Ltd IPO Opens for subscription from 23-Jun-2023 to 27-Jun-2023.

The lot size of Magson Retail and Distribution Ltd is 2000 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹130000 and ₹130000 respectively.

Allotment date for Magson Retail and Distribution Ltd is 03-Jul-2023 and refund of application amount (in case allotment is not received) will begin from 04-Jul-2023. If your allotment goes through, then shares will be credited in your Demat account by 05-Jul-2023.

The registrar for Magson Retail and Distribution Ltd IPO is Bigshare Services Pvt Ltd . You can check your IPO allotment status on the registrar's website.

The shares of Magson Retail and Distribution Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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