Introduction
Mahamaya Lifesciences Limited, with over two decades in the agri-chemicals space, is taking a bold leap with its much-awaited SME IPO. Backed by robust manufacturing, a diversified product line, and commitment to farmer productivity, Mahamaya is on a mission to empower Indian agriculture with high-quality crop protection and soil health solutions. Let’s walk through what makes this IPO compelling—and whether it should be on your watchlist.
IPO Highlights
|
Feature |
Details |
|
Issue Size |
₹70.44 crore (Fresh ₹64.28 cr + OFS ₹6.16 cr) |
|
Price Band |
₹108–₹114 per share |
|
Lot Size |
1,200 shares (Min. 2 lots = 2,400 shares) |
|
Min. Investment |
₹2,73,600 (upper band/retail) |
|
IPO Dates |
Nov 11 to Nov 13, 2025 |
|
Allotment |
Nov 14, 2025 |
|
Listing |
Nov 18, 2025 (BSE SME) |
|
Face Value |
₹10 per share |
|
Reservation |
Retail: 33.33%, Others: 66.67% |
Note: Anchor investors contributed ₹19.97 crore; S-HNI at least 3 lots (3,600 shares); B-HNI at least 8 lots (9,600 shares).
What Does Mahamaya Lifesciences Do?
Founded in 2002, Mahamaya Lifesciences is engaged in manufacturing, registration, and export of crop protection products and bioproducts—serving both Indian and global farming communities with insecticides, herbicides, fungicides, bio-stimulants, and biofertilizers. The company’s technical expertise enables new product launches for Indian agriculture and a complementary export business, enhancing productivity and sustainability in crops and soils.
Company Financials
Mahamaya Lifesciences Ltd.'s revenue increased by 64% and profit after tax (PAT) rose by 148% between the financial year ending with March 31, 2025 and March 31, 2024.
|
Period Ended |
30 Jun 2025 |
31 Mar 2025 |
31 Mar 2024 |
31 Mar 2023 |
|
218.87 |
188.35 |
112.07 |
77.88 |
|
|
84.04 |
267.17 |
162.83 |
137.40 |
|
|
4.10 |
12.94 |
5.22 |
3.75 |
|
|
8.04 |
24.64 |
13.36 |
8.91 |
|
|
53.50 |
49.42 |
24.66 |
19.44 |
|
|
35.73 |
31.66 |
23.41 |
18.19 |
|
|
57.72 |
58.11 |
54.63 |
24.37 |
|
|
Amount in ₹ Crore |
||||
Objectives of the IPO
|
S.No. |
Objects of the Issue |
Expected Amount (₹ in crores) |
|
1 |
Purchase of Equipment for existing Formulation plant |
3.75 |
|
2 |
Funding capital expenditure towards setting up of a new technical manufacturing plant |
29.42 |
|
3 |
Construction of Warehouse Building and Purchase of Machinery |
2.53 |
|
4 |
Funding working capital requirement of our Company |
18.00 |
|
5 |
General Corporate purposes |
- |
IPO Reservation :-
|
Investor Category |
Shares Offered |
|
3,09,600 (5.01%) |
|
|
29,28,000 (47.39%) |
|
|
8,82,000 (14.27%) |
|
|
20,59,200 (33.33%) |
|
|
Total Shares Offered |
61,78,800 (100.00%) |
Key Performance Indicator (KPI) :-
|
KPI |
Values |
|
ROE |
34.94% |
|
ROCE |
23.15% |
|
Debt/Equity |
1.08 |
|
RoNW |
26.19% |
|
PAT Margin |
4.84% |
|
EBITDA Margin |
9.22% |
|
Price to Book Value |
9.40 |
|
Market Capitalization |
₹266.82 Cr. |
Strengths
- Strong financial growth: Revenues up sharply to ₹267.17 crore in FY25 from ₹162.83 crore in FY24, with sustainable profits
- Diversified, scalable product portfolio: Covering chemical and bioproduct segments for crop and soil health
- Export opportunities: Robust global network, major revenue from international markets
- Track record of manufacturing excellence: Goodwill in Indian agri-inputs market, recognized for quality and reliability
Key Risks
- Customer concentration: 70–83% of sales come from top 10 customers, exposing the business to order volatility and dependency.
- Sector cyclicality: Business is exposed to agricultural cycles, monsoons, and commodity pricing patterns.
- Policy and regulatory risk: Changes in regulations, bans or quality standards could impact operations or product approvals.
- Working capital intensity: Large inventory and receivables, especially with growing exports, could strain balance sheet if not managed.
How To Apply for the Online?
- Login or Open demat account with JM Financial Services / JM PRO app: Open the Open A Free Demat Account TodayGet StartedDocuments To Be Kept Handy
- PAN Card
- Cancelled Cheque
- Latest 6 month Bank Statement (Only for Derivatives Trading)