Gurugram-based crop protection products manufacturer Mahamaya Lifesciences will open its initial share sale for public subscription next week on November 11, with price band at Rs 108-114 per share.
The company is raising Rs 70.4 crore via initial public offering (IPO) of 61.78 lakh shares which consists of fresh issue of 56.38 lakh shares, and an offer-for-sale of 5.4 lakh shares by promoter Krishnamurthy Ganesan and his wife.
The anchor portion of the IPO will be launched for institutional investors for a day on November 10, while the offer will remain open for the public till November 13.
The IPO share allotment will be finalised by November 14, while the trading in Mahamaya Lifesciences shares will commence on the BSE SME on November 18.
Mahamaya Lifesciences that specialises in manufacturing of pesticide formulations and supplying bulk formulations catering to both Indian agrochemical companies and multinational corporations will utilise Rs 3.75 crore of fresh issue proceeds for purchase of equipment for existing formulation plant, Rs 29.4 crore for setting up of a new technical manufacturing plant, and Rs 2.5 crore for construction of warehouse building and purchase of machinery.
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Further, Rs 18 crore funds will be used for working capital requirement, and the remaining fresh issue proceeds for general corporate purposes.
Incorporated in 2002, Mahamaya Lifesciences, which competes with listed peers Nova Agritech, and Bhagiradha Chemicals & Industries, has recorded profit of Rs 4.1 crore on revenue of Rs 83 crore for the June 2025 quarter.
Profit in the financial year ended March 2025 soared 148 percent to Rs 12.9 crore, compared to Rs 5.2 crore in previous fiscal. Revenue during the same period surged 63.5 percent to Rs 264.1 crore, up from Rs 161.6 crore.
Oneview Corporate Advisors is acting as the merchant banker for the Mahamaya Lifesciences IPO.
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