Magenta Lifecare Stock Soars on Debut, Jumps 28.57% to Hit Upper Circuit”

Magenta Lifecare's stock opened at ₹45 on BSE SME, 28.57% above the IPO price of ₹35, and quickly hit a 5% upper circuit, signalling strong market approval on debut.
Magenta Lifecare Stock Soars on Debut, Jumps 28.57% to Hit Upper Circuit”

Magenta Lifecare’s shares debuted impressively on the BSE SME, launching at ₹45, a 28.57% rise from the IPO price of ₹35. The strong start led to the stock hitting a 5% upper circuit, reflecting enthusiastic market reception on its first trading day.

On its final day, Magenta Lifecare’s IPO saw an extraordinary subscription rate of 983.19 times, driven by overwhelming interest from NII investors, surpassing 1000 times, and retail investors, who subscribed over 700 times, demonstrating robust demand across all investor categories.

Magenta Lifecare Limited specialises in high-quality foam-based mattresses and pillows, catering to retail, hotel, and institutional sectors across India. Their innovative product line features memory foam, latex, and herbal options. With a broad distribution network, they provide both standard and customizable products, supported by a skilled team of 41 employees and domestic sourcing of raw materials.

Magenta Lifecare Limited aims to allocate INR 3.71 crores from its IPO towards boosting working capital to expand operations and improve profitability. Additional funds will support general corporate purposes, including debt repayment and strategic investments.

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