From Mint: 2024-06-07 19:19:35

The Magenta Lifecare IPO is open for subscription until June 7 with a price band of ₹35 per share. The company manufactures foam-based products like mattresses and pillows under the brand name “Magenta”. Its revenue increased by 1.79% and PAT by 29.96% in the last fiscal year. The IPO has received massive interest, being subscribed 974.69 times on day 3. The issue consists of 2,000,000 equity shares worth ₹7 crore, with no offer-for-sale component. The grey market premium for Magenta Lifecare shares is +28, indicating a potential listing price of ₹63, which is 80% higher than the IPO price.



Read more at Mint: Magenta Lifecare IPO oversubscribed by 974 times on day 3 so far; check latest GMP, subscription status