Mayasheel Ventures IPO Day 2: Check GMP, Subscription Status, Price Band And More
The latest grey market premium (GMP) for the Mayasheel Ventures IPO was Rs 5, indicating a premium of 10.64% against the upper limit of the price band.
Mayasheel Ventures Ltd., a company specialising in building roads and highways, launched its initial public offering (IPO) on Friday and was fully subscribed on Day 1. The demand for the issue was led by Qualified Institutional investors who booked the issue 7 times on Friday.
The company aims to raise over Rs 27 crore from the primary market.
As bidding for the SME issue resumes on Day 2, here's all you need to know about Mayasheel Ventures IPO, including the latest grey market premium, subscription status, price band, offer size and more.
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Mayasheel Ventures IPO: All You Need To Know
The Mayasheel Ventures IPO is a book-building issue worth Rs 27.28 crore. The public offer comprises an entirely fresh issue of 55.14 lakh shares.
Mayasheel Ventures' IPO price band has been fixed between Rs 44 and Rs 47 per share.
To participate in the IPO, retail investors need to bid for at least a single lot size of 3,000 shares, aggregating to a minimum investment of Rs 1,41,000.
As per the company's RHP, of the 60,96,000 shares on offer:
11,04,000 (18.11%) are allocated to Qualified Institutional investors.
8,28,000 (13.58%) are allocated to Non-Institutional investors.
19,32,000 (31.69%) are allocated to Retail investors
16,50,000 (27.07%) allocated to Anchor investors.
Narnolia Financial Services Ltd. is the book-running lead manager of the Mayasheel Ventures IPO. Maashitla Securities Pvt. is the registrar and Prabhat Financial Services Ltd. is the market maker for the issue.
Mayasheel Ventures IPO Subscription Status
Mayasheel Ventures IPO has been subscribed 3.79 times as of 12:14 p.m. on Monday
Qualified Institutions: 7 times
Non-Institutional Buyers: 0.70 times
Retail Investors: 3.27 times
*The subscription status will be updated at regular intervals
Mayasheel Ventures IPO GMP Today
As per Investorgain, the grey market premium (GMP) for the Mayasheel Ventures IPO stood at Rs 5 apiece at 10:00 a.m. on June 23. The latest GMP indicates the IPO listing at Rs 52 per share, at a premium of 10.64% against the upper limit of the price band.
Note: GMP does not represent official data and is based on speculation.
Mayasheel Ventures IPO Important Dates
Investors can bid for shares in the IPO till June 24. Following the subscription, the company is expected to finalise the IPO share allotment status on June 25. Mayasheel Ventures is scheduled to initiate refunds and transfer shares to the Demat accounts on June 26.
Shares of Mayasheel Ventures Ltd. are tentatively scheduled to be listed on the NSE SME platform on June 27.
Mayasheel Ventures: Business, Financials And Use Of IPO Proceeds
Mayasheel Ventures specialises in engineering work related to building roads, electrical work and civil projects. According to its website, the company has executed various projects in Uttar Pradesh and the northeastern states.
Use Of Proceeds
The company will use proceeds from the IPO to fund the purchase of equipment, meet working capital requirements and for general corporate purposes.
Financials
Mayasheel Ventures saw a 74% year-on-year (YoY) rise in its profit after tax to Rs 11.33 crore in FY25 from Rs 6.51 crore in FY24. Revenue from operations rose 31.2% YoY to Rs 171 crore in FY25 from Rs 130.32 crore in the preceding financial year.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
