Incorporated in 2018, Magson Retail & Distribution Limited is engaged in the retail and distribution business of gourmet, frozen food, and specialty foods.
Magson Retail & Distribution's product category includes:
- Frozen food Vegetarian and Non-vegetarian
- Premium Cheese and Dairy products
- Exotic Vegetables and fruits
- Ambient Products
- Imported/ luxury Chocolates
- Imported packed products
The company has over 26 retail stores/outlets of which 16 are operated by the company, 7 are operated by franchise owners and 3 stores are operated under 2 joint ventures. MRDL operates all its stores under the registered brand name "MagSon".
These stores/outlets are located across Western India with 26 outlets in prominent cities which includes one each in Thane, Udaipur, Gandhinagar, Anand, Rajkot, Jamnagar, and Gandhidham. Three stores each in Surat and Vadodara, and thirteen stores/outlets in Ahmedabad (including one chocolate store). The total retail space of 26 outlets/stores is more than 30,000 sq. ft. with the total stock (SKU) count in the store being more than 3000 units.
The company has rented a warehouse of more than 14,000 sq. ft. in Ahmedabad from where it manages its inventory. Magson procures 75% of the products directly from the manufacturers thereby eliminating the middlemen which enables the company to earn higher margins. The other 25% is supplied directly from other distributors/wholesalers.
In December 2021, Magson launched its own brand - Rf Gourmet, it provides premium products such as French Fries, Fiery Fries, Chilli Garlic Potato Shots, Delhi Aloo Tikki, Veggie Burger Tikki, Chunky Fries, Eggs, and a range of Chicken Seekh Kababs.
| Purpose | Amount (₹ Cr) |
|---|---|
| To set up new organisation and stores under franchise model & tie up with major suppliers. | ₹4 |
| Working Capital Requirement | ₹8 |
| General Corporate Purpose | ₹1 |
| Metric | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
|---|---|---|---|
| Total Assets | 2,000 | 1,495 | 1,284 |
| Revenue | 6,301 | 5,567 | 5,359 |
| PAT | 252 | 223 | 182 |
| Net Worth | 926 | 574 | 351 |
| Reserves | 353 | 573 | 350 |
| Total Borrowing | 322 | 345 | 387 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| NII / HNI | — | 1,004,000 (47%) | — |
| Retail (RII) | — | 1,004,000 (47%) | — |
| Market Maker | — | 106,000 (5%) | — |
| Total | — | 2,114,000 (100%) | — |
* Amount calculated at upper price band (₹65) · ** Total includes all investor categories
- 1 Initiation of Refund 04 Jul 2023
- 2 Credit of Shares to Demat 05 Jul 2023
- Retail allocation is strong at 47% of the total offering.
- HNI/NII demand is strong at 47%.
- The IPO P/E of 20x reflects a good valuation relative to typical market ranges.
- Pre-issue EPS of ₹5.
This IPO shows strong fundamentals and healthy investor demand. Research the business model and compare with sector peers before applying.
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