Mahamaya Lifesciences IPO starts today: Check GMP, price range, subscription and other details

Mahamaya Lifesciences’ IPO worth Rs 70.44 crore will open for subscription on Tuesday, against the backdrop of a cautious gray market. The IPO, which will close on November 13, is offered in the price range of Rs 108-Rs 114 per share and the shares are proposed to be listed on the BSE SME platform on November 18.According to market observers, the gray market premium (GMP) for the issue is currently flat (Rs 0), indicating that the shares are expected to trade around their issue price. The muted tone on the unofficial market reflects a wait-and-see attitude among investors amid a busy IPO calendar.

IPO structure and proceeds

The Mahamaya Lifesciences IPO includes a fresh issue of Rs 64.28 crore and an offer for sale (OFS) of Rs 6.16 crore, amounting to a total size of Rs 70.44 crore. The company will issue 61.78 lakh shares, of which 3.09 lakh shares are reserved for the market maker, Mansi Share and Stock Broking. Mahamaya Lifesciences plans to use Rs 29.42 crore from the IPO proceeds for setting up a new engineering plant, Rs 3.75 crore for purchase of new equipment at the existing formulation facility, Rs 2.53 crore for warehouse construction and machinery purchases, Rs 18 crore for working capital, and the rest for general corporate purposes.

Business overview

Mahamaya Lifesciences manufactures and exports crop protection products and bioproducts designed to improve soil and plant health. The company specializes in pesticide formulations and supplies technical grade bulk ingredients to both domestic agrochemical companies and multinational corporations. The company also imports research-based molecules and registers them with India’s Central Insecticides Board and markets them as value-added formulations. Mahamaya Lifesciences has also made significant progress in global markets, with product registrations and exports to countries such as the Dominican Republic, Egypt, Ethiopia, Jordan, the UAE and Turkey.

Financial performance

Mahamaya Lifesciences has reported strong financial growth over the past two years. Revenue rose 64% year-on-year to Rs 267 crore in FY25 from Rs 163 crore in FY24, while profit after tax rose 148% to Rs 12.94 crore from Rs 5.22 crore.IPO allocation and investor categories

Of the total 61.78 lakh shares, 47.4% have been allocated to qualified institutional buyers (QIBs), 14.3% to non-institutional investors (NIIs) and 33.3% to retail investors. The company also raised Rs 19.97 crore from anchor investors on November 10, allotting 17.52 lakh shares ahead of the public offer.

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