Mayasheel Ventures IPO, Day 1: Subscription Status, GMP, Listing Date And More

Mayasheel Ventures Ltd., a company specialising in building roads and highways, launched its initial public offering (IPO) on Friday to raise over Rs 27 crore from the primary market. Here are the key details about Mayasheel Ventures IPO that investors need to check before submitting their bids.

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. The High Net-Worth Individuals (HNIs) can apply for a minimum of two lots, or 6,000 shares, amounting to an investment of Rs 2,82,000.

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.

Investors can bid for shares in the IPO from June 20 to 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 IPO has been subscribed 0.14 times as of 11:00 a.m. on Friday, as per market tracking site Chittorgarh.

• Qualified Institutions: nil

• Non-Institutional Buyers: 0.08 times

• Retail Investors: 0.25 times

*The subscription status will be updated at regular intervals

As per Investorgain, the grey market premium (GMP) for the Mayasheel Ventures IPO stood at Rs 6 apiece at 8:56 a.m. on June 20. The latest GMP indicates the IPO listing at Rs 53 per share, at a premium of 12.77% against the upper limit of the price band. 

Note: GMP does not represent official data and is based on speculation.

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.