Incorporated in 2018, Magson Retail & Distribution Limited is engaged in the retail and distribution business of gourmet, frozen food, and specialty foods.
Magson Retail & Distribution’s product category includes:
- Frozen food Vegetarian and Non-vegetarian
- Premium Cheese and Dairy products
- Exotic Vegetables and fruits
- Ambient Products
- Imported/ luxury Chocolates
- Imported packed products
The company has over 26 retail stores/outlets of which 16 are operated by the company, 7 are operated by franchise owners and 3 stores are operated under 2 joint ventures. MRDL operates all its stores under the registered brand name “MagSon”.
These stores/outlets are located across Western India with 26 outlets in prominent cities which includes one each in Thane, Udaipur, Gandhinagar, Anand, Rajkot, Jamnagar, and Gandhidham. Three stores each in Surat and Vadodara, and thirteen stores/outlets in Ahmedabad (including one chocolate store). The total retail space of 26 outlets/stores is more than 30,000 sq. ft. with the total stock (SKU) count in the store being more than 3000 units.
The company has rented a warehouse of more than 14,000 sq. ft. in Ahmedabad from where it manages its inventory. Magson procures 75% of the products directly from the manufacturers thereby eliminating the middlemen which enables the company to earn higher margins. The other 25% is supplied directly from other distributors/wholesalers.
In December 2021, Magson launched its own brand – Rf Gourmet, it provides premium products such as French Fries, Fiery Fries, Chilli Garlic Potato Shots, Delhi Aloo Tikki, Veggie Burger Tikki, Chunky Fries, Eggs, and a range of Chicken Seekh Kababs.
Magson Retail And Distribution IPO Details
| IPO Date | Jun 23, 2023 to Jun 27, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹65 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 2,114,000 shares (aggregating up to ₹13.74 Cr) |
| Fresh Issue | 2,114,000 shares (aggregating up to ₹13.74 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 5,736,000 |
| Share holding post issue | 7,850,000 |
| Market Maker portion | 106,000 shares Sunflower Broking |
Magson Retail And Distribution IPO Reservation
| Retail Shares Offered | Not less than 50.00% of the Offer |
Magson Retail And Distribution IPO Timetable (Tentative)
Magson Retail And Distribution IPO opens on Jun 23, 2023, and closes on Jun 27, 2023.
| Event | Tentative Date |
|---|---|
| Opening Date | Friday, 23 June 2023 |
| Closing Date | Tuesday, 27 June 2023 |
| Basis of Allotment | Monday, 3 July 2023 |
| Initiation of Refunds | Tuesday, 4 July 2023 |
| Credit of Shares to Demat | Wednesday, 5 July 2023 |
| Listing Date | Thursday, 6 July 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Jun 27, 2023 |
Magson Retail And Distribution IPO Lot Size
The Magson Retail And Distribution IPO lot size is 2000 shares.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹130,000 |
| Retail (Max) | 1 | 2000 | ₹130,000 |
| HNI (Min) | 2 | 4,000 | ₹260,000 |
| Lot Size Calculator |
Magson Retail And Distribution IPO Promoter Holding
Mr. Rajesh Emmanuel Francis and Mr. Manish Shivnarayan Pancholi are the company promoters.
| Pre Issue Share Holding | 95.89% |
| Post Issue Share Holding | 70.06% |
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-20 | 833.45 | 3,241.22 | 166.31 | 169.04 | 168.04 | 354.00 |
| 31-Mar-21 | 1,283.84 | 5,358.92 | 181.75 | 350.80 | 349.80 | 386.60 |
| 31-Mar-22 | 1,494.69 | 5,566.77 | 223.36 | 574.06 | 573.06 | 344.72 |
| 31-Mar-23 | 1,999.87 | 6,301.49 | 251.88 | 926.25 | 352.65 | 321.95 |
| Amount in ₹ Lakhs |
Objects of the Issue
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- To set up new organizations and stores under a franchise model & tie up with major suppliers,
- Working Capital Requirement, and
- General Corporate Purpose.
Magson Retail And Distribution IPO Review (Apply)
[Dilip Davda] The company operates in a highly competitive and fragmented segment with many established big players. It has posted steady growth in its top and bottom lines for the reported periods. Based on the financial performance so far, the issue appears fully priced. Investors may consider an investment with a medium to long-term perspective as post the Pandemic, the fancy for such type of retail marketing has increased manifold. Read detail review…
Magson Retail And Distribution IPO Prospectus
Company Contact Information
Magson Retail And Distribution Limited
204-B, Primate Complex, Opp. Mother Milk Palace,
Nr. Judges Bungalows Cross Roads,
Bodakdev, Ahmedabad – 380015
Phone: +91 9978607507
Email: cs.magson@gmail.com
Website: https://www.magson.in/#
Magson Retail And Distribution IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://www.bigshareonline.com/