Mahamaya Lifesciences Launches Rs 70.44 Crore IPO with Flat Grey Market Premium
Mahamaya Lifesciences, a crop protection and bioproducts manufacturer, opens its IPO to raise Rs 70.44 crore. The price band is set at Rs 108-114 per share, with the issue closing on November 13. The IPO includes a fresh issue of Rs 64.28 crore and an offer for sale of Rs 6.16 crore. Funds will be used for a new manufacturing plant, equipment purchases, warehouse construction, and working capital. The company reported a 64% revenue growth to Rs 267 crore and a 148% profit increase to Rs 12.94 crore. Shares will be listed on BSE SME on November 18, with the current grey market premium at zero.
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Mahamaya Lifesciences, a manufacturer of crop protection products and bioproducts, has opened its initial public offering (IPO) to raise Rs 70.44 crore. The company has set the price band for its shares between Rs 108-114, with the issue closing on November 13. The IPO comprises a fresh issue of Rs 64.28 crore and an offer for sale of Rs 6.16 crore.
IPO Details
| Particulars | Details |
|---|---|
| Issue Size | Rs 70.44 crore |
| Fresh Issue | Rs 64.28 crore |
| Offer for Sale | Rs 6.16 crore |
| Price Band | Rs 108-114 per share |
| Closing Date | November 13 |
| Listing Date | November 18 (BSE SME) |
| Grey Market Premium | Zero |
The grey market premium currently stands at zero, suggesting that the shares may list around the issue price.
Fund Utilization
The company plans to use the IPO proceeds for various purposes:
| Purpose | Amount (in Rs crore) |
|---|---|
| New Manufacturing Plant | 29.42 |
| Equipment Purchases | 3.75 |
| Warehouse Construction | 2.53 |
| Working Capital | 18.00 |
Financial Performance
Mahamaya Lifesciences has shown significant growth in its recent financial results:
| Metric | Amount | Growth |
|---|---|---|
| Revenue | Rs 267.00 crore | 64.00% |
| Profit | Rs 12.94 crore | 148.00% |
Share Allocation
The IPO's share allocation is structured as follows:
| Investor Category | Allocation Percentage |
|---|---|
| Institutional Buyers | 47.40% |
| Retail Investors | 33.30% |
| Non-Institutional Investors | 14.30% |
The company has already raised Rs 19.97 crore from anchor investors.
Company Overview
Mahamaya Lifesciences specializes in manufacturing crop protection products and bioproducts. The company has established an international presence, exporting its products to multiple countries, including the United Arab Emirates, Turkey, and Egypt.
Investors should note that while the company has shown strong financial growth, the flat grey market premium suggests cautious market sentiment. As always, potential investors are advised to carefully review the company's prospectus and consider their own financial goals before making an investment decision.
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