We consider a two-component Bose-condensed mixture characterized by positive s-wave scattering lengths. We assume equal densities and intraspecies interactions. By doing the Bogoliubov transformation of an effective Hamiltonian, we obtain the lower energy magnon dispersion incorporating the superfluid entrainment between the components. We argue that p-wave pairing of distinct bosons should be accompanied by self-localization of magnons and formation of a magnetoroton. We demonstrate the effect on a model system of particles interacting via step potentials.