The Magenta Lifecare IPO opened for subscription on Wednesday, June 5, and closed on Friday, June 7. The Magenta Lifecare IPO allotment status is set to be finalised today.

If you applied for the IPO, here is how you can check the Magenta Lifecare IPO allotment status.

Checking Allotment Status on Registrar's Website:

Follow these steps to check the Magenta Lifecare IPO allotment status

1. Visit the registrar's website.
2. Click on "Company Selection" and choose "Magenta Lifecare" from the dropdown menu.
3. Then you can enter your PAN, application number, or Demat.
4. Enter the captcha and click Submit to retrieve the Magenta Lifecare IPO allotment status

Checking IPO Allotment Status on BSE:

1. Go to the BSE website.
2. Click on the ‘Equity' section and select "Magenta Lifecare" from the dropdown menu.
3. Enter your application number or PAN.
4. Click on the ‘Search' button.
5. The result will show the number of shares allotted to you.

If all the details are entered correctly and the allotment has been finalised, the Magenta Lifecare IPO allotment status will be visible.

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Magenta Lifecare IPO Subscription Status

The Magenta Lifecare IPO generated significant interest across all investor categories and was fully subscribed within hours of its launch. On the final day of bidding, the IPO subscription status shows an overwhelming response, with the issue being subscribed 983 times. The retail portion was subscribed 778.41 times, and the NII portion saw a subscription rate of 1,145 times. The company received bids for 184.80 crore shares against the 18.96 lakh shares available for subscription.

Magenta Lifecare IPO GMP

The Magenta IPO GMP is currently reported at ₹11, down from ₹28 reported earlier when the IPO opened. The current Magenta Lifecare IPO GMP suggests an expected listing gain of about 31% for investors.

Magenta Lifecare IPO Details

The issue has been priced at ₹35 per share, with a lot size of 4,000 shares. This means investors can bid for a minimum of 4,000 shares or in multiples thereof. For retail investors, the minimum investment stands at ₹1.4 lakh, while High Net-worth Individuals (HNIs) need to apply for at least two lots, totalling 8,000 shares, requiring a minimum investment of ₹2.8 lakh.

Aiming to raise ₹7 crore, the Magenta Lifecare IPO consists entirely of a fresh issuance of 20 lakh equity shares at a face value of ₹10 each. There is no offer-for-sale component in this IPO. The proceeds from the issue are intended to be used primarily to finance the company’s working capital requirements and general corporate purposes.

Magenta Lifecare, incorporated in 2015 and based in Gujarat, specializes in manufacturing foam-based products, including mattresses and pillows, sold under the ‘Magenta’ brand name. The company employs 41 people as per the latest prospectus data. The strong subscription numbers highlight the robust investor confidence in the company’s prospects and its market positioning within the foam-based product industry.

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