Magson Retail & Distribution IPO: How to Allotment Status

The ₹13.74 crore of Magson Retail & Distribution IPO consists entirely of a fresh issue of shares with no offer for sale (OFS) component in the IPO. The company has issued a total of 21,14,000 shares at a fixed price of ₹65 per share aggregating to total issue size of ₹13.74 crore. The break-down of the offer reservation across different categories of investors is as under.

The response of Magson Retail & Distribution IPO was very moderate and it was subscribed 6.71X overall at the close of bidding on 27th June 2023 with the retail segment seeing 7.33 times subscription and the non-retail portion seeing 6.09 times subscription. The table below captures the overall allocation of shares with the oversubscription details as of the close of the IPO on 27th June 2023.

The basis of allotment will be finalized on Monday, 03rd July 2023, the refunds will be initiated on 04th July 2023, demat credits will be finalized on 05th July 2023, while the stock of Magson Retail & Distribution Ltd will get listed on the NSE and the BSE on 06th July 2023. The company had a pre-IPO promoter holding of 95.89% and post the IPO, the promoter stake in Magson Retail & Distribution Ltd will stand reduced to 70.06%.

How to check the allotment status. Since this is an NSE SME IPO, there is no facility to check on the exchange website and BSE only offers allotment status mainboard IPOs and for BSE SME IPOs. If you have applied for the IPO, you can either check your allotment status on the website or the on the website of the IPO registrar, Bigshare Services Private Limited. Here are the steps that you need to follow to check allotment status.

Checking the allotment status of Magson Retail & Distribution Ltd on the website of Bigshare Services Private Limited (Registrar to IPO)

Visit the Bigshare Services registrar website for IPO status by clicking on the link below:

https://www.bigshareonline.com/ipo_Allotment.html

Here you are given the choice to select 3 servers viz. Server 1, Server 2, and Server 3. There is nothing to be confused, as these are just server backups in case one of the servers is experiencing too much traffic. You can select any of these 3 servers and in case you are finding problems accessing one of the servers, then try the other one. There is no difference, which server you select; the output would still be the same across.

This dropdown will only show the active IPOs, so once the allotment status is finalized, you can select Magson Retail & Distribution Ltd from the dropdown box. The allotment status will be finalized on Monday, 03rd July 2023, so in this case, you can access the details on the registrar website either late on 03rd July 2023 or by middle of 04th July 2023. Once the company is selected from the dropdown box, you have 3 methods to check the allotment status for the IPO.

• Firstly, you can access with Application Number / CAF Number. Enter the Application / CAF number and then click on Search Button. Enter the application exactly it is given in the acknowledgement slip given to you post the IPO application process. After that you can click on the Search button to get the details of shares allotted to you in the IPO.
   
• Secondly, you can search by Beneficiary ID of your demat account. From the dropdown box, you must first select the depository name where your demat account is held i.e., NSDL or CDSL. In the case of NSDL, enter the DP id and Client id in separate boxes as provided. In case of CDSL, just enter the CDSL client number. Remember that the NSDL string is alphanumeric while the CDSL string is a numeric string. The details of your DP and client ID are available in your online DP statement or in the statement of account. After that you can click the Search Button in both cases.
   
• Thirdly, you can also search by Income Tax PAN number. Once you select PAN (permanent account number) from the dropdown menu, enter your 10-digit PAN number, which is an alphanumeric code. The PAN number will be available on your PAN card or on top of your income tax returns filed. Once you enter the PAN, click on the Search Button.

The IPO status with number of shares of Magson Retail & Distribution Ltd allotted will be displayed on the screen. You can save a screenshot of the screen for future reference. Once again, you can verify the demat credit by the close of 06th July 2023.

Magson Retail and Distribution Ltd, is an SME IPO on the NSE which had opened for subscription on 23rd June 2023. The company, Magson Retail and Distribution Ltd, was incorporated in the year 2018 and  is engaged in the retail and the distribution business of gourmet, frozen foods, and specialty foods. Some of the products that the company distributes through its channels include cheese and dairy products, exotic vegetables and fruits, ambient products, and luxury chocolates. It caters to a very niche audience that is quite fastidious about its needs but not too price conscious.

Back in 2009, the idea of Magson to serve customers with premium quality gourmet, frozen & global food products came to life with the launch of the first Magson store by Rajesh Francis and Manish Pancholi under the guidance of Raaj Maganlal. Since its inception in 2009, the brand has noticeably evolved as a very unique and one-of-a-kind specialty store. It caters to the wide-ranging needs of the customer and has emerged as a preferred choice for Frozen & Gourmet Foods by most of the customers of the city of Ahmedabad. It has over 1.50 lakh customers transaction on a regular basis and caters to a very niche audience in and around the city.