Magson Retail And Distribution lists with 40% premium at ₹91.15 per share on NSE SME
₹91.15 apiece on the NSE SME platform, as compared to the IPO price of ₹65. However, soon after the listing, the stock was locked at a lower circuit of 5% at ₹86.60 per share. The initial public offering (IPO) of Ahmedabad-headquartered Magson Retail And Distribution was subscribed 6.74 times during June 23 to 27.
The public issue was subscribed 7.38 times in the retail category and 6.09 times in the Other category. The ₹13.74-crore Magson Retail IPO was a fresh issue of 21,14,000 equity shares. The shares were offered at a fixed price of ₹65 apiece.
ISK Advisors was acting as the lead manager of the issue, while Bigshare Services was the IPO registrar. Incorporated on December 10, 2018, Magson Retail And Distribution is engaged in the retail and distribution business of gourmet, frozen food, and speciality foods. For the year ended March 31, 2023, the company's net worth increased to ₹9.26 crore from ₹5.74 crore in FY22 and ₹3.51 crore in FY21. The company's total revenue climbed to ₹62.82 crore in FY23 from ₹55.54 crore in FY22 and ₹53.56 crore in FY21.
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