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₹114 - 114
Mahamaya Lifesciences Ltd
Agro ChemicalsIPOSME
₹114 - 114
Our company specializes in the manufacturing of pesticide formulations and supply bulk formulations catering to both Indian agrochemical companies, as well as multinational corporations (MNCs). We began our journey by focusing on import and registration of vital pesticide molecules (Technical) that were not produced domestically in India. We imported these molecules after lot of product research and worked on registering them with the Central Insecticides Board and Registration Committee (CIBRC) under the Department of Agriculture, Government of India. After successful registration we marketed these molecules both as technical and as value added end use formulations for both domestic manufacturers and MNCs.
Lot1,200Min Invest₹2,73,600Face Value₹10Issue Size₹70 CrFresh Issue₹64 CrOffer for Sale₹6 CrListing Price₹116CMP₹167
Timeline
11 Nov
Bidding opens
13 Nov
Bidding closes
14 Nov
Allotment
17 Nov
Refund & demat credit
18 Nov
Listing
Subscription
Subscription opens once dates are announced
Reports
Offer Details
Terms
Issue Size₹70 Cr0.62 Cr shares
Fresh Issue₹64 Cr
Offer for Sale₹6 Cr
Face Value₹10
Lot Size1,200 shares
ReservationQIB 49.89% · NII 15.03% · RETAIL 35.08%
Application Sizes
Retail₹2,73,6001-1 lots
sNII₹2,73,600from 2 lots
bNII₹10,94,400from 8 lots
Managers & Registrar
Lead ManagerOneview Corporate Advisors Pvt Ltd
RegistrarKFin Techologies Ltd
Ownership & Proceeds
Offer for Sale
Selling ShareholderShares OfferedAmt ₹ CrKrishnamurthy GanesanPRMTR3,70,0004.22Lalitha KrishnamurthyPRMTR1,70,0001.94Total5,40,0006.16
Shareholding
CategoryPre IPOPost IPOPromoter Group77.28%56.35%Public22.72%43.65%
Objects of the Issue
- Purchase of equipment for existing formulation plant
- Funding capital expenditure towards setting up of a new technical manufacturing plant
- Construction of warehouse building and purchase of machinery
- Funding working capital requirement of the company
- General corporate purposes
Financials
Profit & Loss
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| RevenueCr | 90 | 137 | 162 | 266 | 329 |
| Operating ProfitCr | 6 | 9 | 13 | 25 | 34 |
| OPM% | 6.8 | 6.5 | 8.2 | 9.2 | 10.2 |
| PBTCr | 4 | 5 | 7 | 17 | 24 |
| PATCr | 3 | 4 | 5 | 13 | 17 |
| EPS | 22 | 30 | 42 | 8 | 8 |
Balance Sheet
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Equity CapitalCr | 1 | 1 | 1 | 18 | 23 |
| ReservesCr | 14 | 18 | 23 | 32 | 99 |
| BorrowingsCr | 19 | 24 | 55 | 58 | 91 |
| Fixed AssetsCr | - | - | - | 31 | - |
| Total AssetsCr | 56 | 78 | 112 | 188 | 310 |
Cash Flow
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Operating Cash FlowCr | 2 | 1 | -23 | 0 | -30 |
| Investing Cash FlowCr | -3 | -3 | -2 | -7 | -16 |
| Financing Cash FlowCr | 1 | 2 | 24 | 9 | 81 |
| Net Cash FlowCr | 0 | 1 | 0 | 1 | 35 |
Strengths & Risks
Strengths · as stated in the DRHP
- Experienced management team consisting of experts.
- Capability to introduce vital products for Indian Agriculture.
- Development of export opportunities of products.
- Ability to develop brands.
- Cordial relationships with suppliers of raw materials.
- Core values focused on achieving sustainability through innovative approaches.
Strategies · as stated in the DRHP
- Enhancing manufacturing capabilities and expand our product portfolio with advanced safer, ecofriendly chemical and biological crop care solutions.
- Research and Development.
- Expanding Bio-Product & Herbicide segment.
- Maintaining relationships with customers.
- Strengthening up our business through effective branding and promotional activities.
Risks · as stated in the DRHP
- Its top ten customers constituted 71.35%, 76.26%, 83.14% and 71.12% of our sales for the period ended June 30, 2025 and for the financial year ended March 31, 2025, March 31, 2024, March 31, 2023 respectively. Absence of large number of customers, dependence on few customers and creating a customer concentration risk which may have an adverse impact on its business operations and financial performance.
- The Company has not entered into long-term agreements with its customers for purchasing the company products nor for the supply of raw materials with its suppliers. The company is subject to uncertainties in demand/supply and there is no assurance that these customers and suppliers will continue to purchase its products or sell raw materials to it or that they will not scale down their orders. This could impact the business and financial performance of the Company.
- Raw materials constitute a significant percentage of the Company's total expenses. Any increase in prices and any decrease in the supply would materially adversely affect the Company's business.
- The company is required to obtain and/or renew certain registrations from the CIB&RC for its products manufactured in India. The company also register its products in overseas jurisdictions through the company International Distribution Partners to enable exports to such countries. Any failures to successfully register its products in India or in the international markets may affect its results of operations and financial condition.
- The company has complied with the timely filing requirement for statutory dues but have faced delays in payment due to technical issue.
- The company is party to certain litigation and claims. These legal proceedings are pending at different levels of adjudication before various forums and regulatory authorities. Any adverse decision may make us liable to liabilities /penalties and may adversely affect its reputation, business, and financial status.