Equity shares in Magson Retail And Distribution Limited will be issued via fixed price issue in the company’s Initial Public Offering (IPO). The initial public offering (IPO) for Magson Retail And Distribution Limited is set for the week of June 23 – June 27, 2023.The issue is priced at ₹65 per share. The minimum order quantity is 2000 Shares. With a face value of Rs. 10, each of the 2,114,000 shares up for sale in the IPO may bring in as much as 13.74 Cr. for the company. Let’s learn more about their initial public offering scheduled for June of 2023.
About Magson Retail And Distribution Limited
Magson sale & Distribution Limited, founded in 2018, engages in the sale and distribution of gourmet, frozen food, and specialty foods. The company has over 26 retail stores/outlets, of which 16 are operated by the corporation, 7 by franchise owners, and 3 by two joint partnerships. All of MRDL’s outlets are operated under the registered brand name “MagSon.” These stores/outlets are spread across Western India, with 26 locations in major cities including Thane, Udaipur, Gandhinagar, Anand, Rajkot, Jamnagar, and Gandhidham. Surat and Vadodara each have three stores, and Ahmedabad has thirteen (including one chocolate store). The overall retail space of the 26 outlets/stores is more than 30,000 square feet, with a total stock (SKU) count of more than 3000 pieces.
The company has rented a warehouse in Ahmedabad with over 14,000 square feet to manage its goods. Magson obtains 75% of its items directly from manufacturers, avoiding the need for middlemen and allowing the company to generate better profits. The remaining 25% comes directly from other distributors/wholesalers. Magson introduced their own brand, Rf Gourmet, in December 2021, which offers luxury items such as French Fries, Fiery Fries, Chilli Garlic Potato Shots, Delhi Aloo Tikki, Veggie Burger Tikki, Chunky Fries, Eggs, and a variety of Chicken Seekh Kababs.
Magson Retail IPO Issue Details
| Issue Type | Fixed Price IPO Issue |
| Issue Opens | 23rd June 2023 |
| Issue Closes | 27th June 2023 |
| Face Value | Rs 10 Per Share |
| Issue Price | Rs 65 Per Share |
| Issue Size | 2,114,000 Shares (Rs 13.74 crores) |
| Minimum Order Quantity | 2000 Shares |
| Listing | NSE, SME |
Purpose of the Issue
The company aims to use the net revenues of the offering to fund the following projects:
- To set up new organizations and stores under a franchise model & tie up with major suppliers.
- To meet working capital requirements.
- General corporate expenses and issue expenses.
Magson Retail And Distribution Limited — Company Contact Details
- Registered & Corporate Office: 204-B, Primate Complex, Opp. Mother Milk Palace, Nr. Judges Bungalows Cross Roads, Bodakdev, Ahmedabad – 380015
- Telephone: +91 9978607507
- Website: https://www.magson.in/#
Magson Retail IPO – Lead Managers of the Issue
Isk Advisors Pvt Ltd
- Office Address: 5, Laxmi Society, B/H Sasuji Restaurant, Off. C.G Road, Ahmedabad- 380006(IN)
- Telephone: +91 79-26464023
- Email: ncmpl@ncmpl.com
Magson Retail And Distribution IPO – Registrar of the Issue
Bigshare Services Pvt Ltd
- Telephone: +91-22-6263 8200
- Email: ipo@bigshareonline.com
- Website: https://www.bigshareonline.com/
Magson Retail And Distribution IPO Issue Prospectus
Click here to read the Final Prospectus of this IPO Issue.
Disclaimer: Investingly just provides basic information as update about the issues. Investingly never gives advices or recommendations to anyone. Investments into securities are subject to market risk. Please read the offer and issue documents carefully before investing. It is also advised to consult your financial advisor for necessary suggestions.
