The initial public offering (IPO) of Magson Retail and Distribution has been fully subscribed on June 26, Monday, the second day of the bidding process.
Magson Retail and Distribution IPO was 1.02 times so far on day 2 as the public issue received bids for 20.42 lakh shares, till 1:00 pm.
As per the data from chittorgarh.com, Magson Retail IPO has been subscribed 1.29 times in the retail category and 0.74 times in the NII category. Qualified Institutional Buyers (QIB) are yet to put their bids.
Also Read: IdeaForge Technology IPO: Issue fully booked on Day 1; check details
Magson Retail and Distribution IPO is an SME IPO that opened for subscription on June 23 and will be available for subscription till June 27.
The public issue is a fresh issue of 21.14 lakh equity shares at a fixed price of ₹65 each. The company plans to raise ₹13.74 crore from the IPO.
The company 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.
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.
Magson Retail & Distribution is a retailer and distributor of gourmet, frozen food, and specialty foods.
Catch all IPO-related news here
Know your inner investor
Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Download The Mint News App to get Daily Market Updates.
Updated: 26 Jun 2023, 01:19 PM IST