Magenta Lifecare Ltd Share Price – BSE

Consumer Durables, Small Cap

Magenta Lifecare has revised the meeting of the Board of Directors which was scheduled to be held on 2 July 2024. The meeting will now be held on 5 July 2024.

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Magenta Lifecare will hold a meeting of the Board of Directors of the Company on 2 July 2024.

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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.

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The equity shares of Magenta Lifecare (Scrip Code: 544188) are listed effective 12 June 2024 and admitted to dealings on the Exchange in the list of ''MT'' Group Securities.

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