Magson Retail and Distribution IPO has been subscribed 3.03 times so far on June 27, Tuesday, the third and the last day of the bidding process. The public issue received bids for 60.88 lakh equity shares as against 24.14 lakh shares on the offer.
As per the data from chittorgarh.com, Magson Retail IPO has been subscribed 4.49 times in the retail category and 1.57 times in the NII category. Qualified Institutional Buyers (QIB) are yet to put their bids till 2:00 PM.
Magson Retail and Distribution IPO opened for subscription on June 23 and will be available for subscription till June 27. The ₹13.74 crore worth SME IPO is a fresh issue of 21.14 lakh equity shares at a fixed price of ₹65 each.
The company will finalize the basis of the allotment of shares on July 3, while the initiation of refunds or unblocking of funds will be done on July 4. The shares will be credited to allottees’ demat accounts on July 5.
The shares of Magson Retail & Distribution will be listed at the NSE EMERGE platform on July 6.
It has reserved 50% of the total size for retail individual investors, while the remaining will be set aside for other investors including corporate bodies or institutions, QIBs, and Non‐Institutional applicants.
ISK Advisors is acting as the lead manager of the issue, while Bigshare Services is the IPO registrar.
Magson Retail & Distribution is a retailer and distributor of gourmet, frozen food, and specialty foods.
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Updated: 27 Jun 2023, 02:05 PM IST