Magenta Lifecare IPO: Allotment Finalized Today – How to Check Your Status!

The share allotment for the Magenta Lifecare IPO is set to be finalized today. Investors can check their allotment status through Cameo Corporate Services, the IPO registrar, or on the BSE website.

Oversubscription and Allocation

Due to oversubscription in the retail category, shares will be allocated to retail individual investors (RIIs) on a proportional basis. If you do not receive an allotment, Magenta Lifecare will start the refund process for your application money on June 11, 2024. On the same day, shares will be credited to the demat accounts of those who are allotted shares. Magenta Lifecare is an SME IPO, with shares expected to be listed on the BSE SME platform around June 12, 2024.


How to Check Allotment Status on Cameo Corporate Services

If you applied for the Magenta Lifecare IPO, you can check your allotment status on the IPO registrar’s website, Cameo Corporate Services.

  • Step 1: Visit the registrar’s website.
  • Step 2: Click on ‘Company Selection’ and select the IPO name.
  • Step 3: Enter your PAN, application number, DP client ID, or account number (IFSC).
  • Step 4: Click on ‘Search’.

You can check the allotment status at this link: Cameo Corporate Services.

How to Check Allotment Status on the BSE Website

  • Step 1: Visit the BSE allotment page: BSE Allotment Page.
  • Step 2: Under ‘Issue Type’, select ‘Equity’.
  • Step 3: Choose the IPO from the drop-down menu under ‘Issue Name’.
  • Step 4: Enter your PAN or application number.
  • Step 5: Confirm you are not a robot, then click ‘Submit’.

Your allotment status will appear on the screen.

About Magenta Lifecare

Magenta Lifecare manufactures foam-based products like mattresses and pillows under the brand “Magenta” in India. Their product range includes memory foam, latex-based, bonded mattresses, pocketed springs, and various types of pillows. Their customers include retail buyers, hotels, and institutions. The company aims to expand its market share in India’s growing mattress market by leveraging its strengths.

IPO Details

The Magenta Lifecare IPO is a book-built offer worth ₹7 crore, consisting of 20 lakh new shares. Fedex Securities Pvt. Ltd. is the bookrunner and lead manager for the IPO, with Sunflower Broking as the market maker. The company plans to use the proceeds for working capital and general corporate purposes.

Subscription Status

The Magenta Lifecare IPO saw strong demand, being oversubscribed 983 times. It received 1,86,41,24,000 share applications against 1,896,000 shares offered, amounting to bids worth ₹6,524 crore. The retail category was subscribed 778 times, with 73,79,32,000 shares bid for against 948,000 offered. The NII section received bids for 1,08,61,96,000 shares against 948,000 allocated shares, resulting in a subscription rate of 1145 times.

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