Mayasheel Ventures IPO: Paving the Way for Investor Interest?
The Indian IPO market continues to be a vibrant space for investors seeking new opportunities. As the infrastructure sector gains momentum, companies involved in building critical infrastructure are attracting attention. Mayasheel Ventures Limited, an entity primarily focused on road and highway construction, is set to launch its Initial Public Offering (IPO). This blog post delves into the specifics of this upcoming SME IPO, offering a comprehensive overview for potential investors.
Understanding Mayasheel Ventures Limited
Established in May 2008, Mayasheel Ventures Limited has carved a niche in the infrastructure development landscape. The company specializes in constructing roads and highways, primarily for government entities like NHIDCL (National Highways and Infrastructure Development Corporation Limited) and other government departments.
Their operational model includes both EPC (Engineering, Procurement, and Construction) and BOQ (Bill of Quantity) based projects, demonstrating flexibility in project execution. Beyond road infrastructure, Mayasheel Ventures also undertakes electrical works, encompassing the construction of power houses, installation of streetlights, and development of transmission lines. Their revenue generation is significantly tied to government tenders, highlighting a strong focus on public sector projects.
Key Strengths of the Company:
- Highly qualified and experienced management team in civil engineering and construction.
- A strong commitment to product quality, ensuring projects meet stringent client standards.
- Robust order book, particularly in the roads, highways, and bridges segments, indicating future revenue visibility.
- Proven project management and execution capabilities, crucial for timely completion of large-scale infrastructure projects.
Unveiling the Offering: Key IPO Specs
The Mayasheel Ventures IPO is structured as a book-building issue, targeting to raise capital to fuel its growth ambitions. Here's a quick look at the core details:
| Detail | Specification |
|---|---|
| IPO Type | SME Bookbuilding IPO |
| Issue Price Band | ₹44 to ₹47 per share |
| Face Value | ₹10 per share |
| Total Issue Size | 58,05,000 shares (aggregating up to ₹27.28 Crores) |
| Fresh Issue | 55,14,000 shares (aggregating up to ₹27.28 Crores) |
| Listing Exchange | NSE SME |
| Book-Running Lead Manager | Narnolia Financial Services Ltd |
| Registrar to the Issue | Maashitla Securities Private Limited |
| Market Maker | Prabhat Financial Services Ltd. |
Navigating the IPO Journey: Important Dates
Understanding the timeline is crucial for any investor. The Mayasheel Ventures IPO follows a structured schedule from opening to listing:
*Note: Dates are tentative and subject to change. UPI mandate confirmation cut-off is 5 PM on the closing date.
Lot Size and Investment Details
For retail investors and High Net-worth Individuals (HNIs), specific investment thresholds apply:
| Investor Category | Minimum Lot Size | Minimum Shares | Minimum Investment Amount (at cut-off price) |
|---|---|---|---|
| Retail Investor | 1 Lot | 3,000 Shares | ₹1,41,000 |
| HNI (Non-Institutional Investor) | 2 Lots | 6,000 Shares | ₹2,82,000 |
Investors are typically advised to bid at the cut-off price to enhance their chances of allotment, especially in scenarios of oversubscription.
Subscription Breakdown: Who Gets What?
The total shares offered in the IPO are allocated across different investor categories, ensuring broad participation:
| Investor Category | Shares Offered | Percentage (%) |
|---|---|---|
| Market Maker Portion | 2,91,000 | 5.01% |
| Qualified Institutional Buyers (QIB) | 27,54,000 | 47.44% |
| - Anchor Investors | 16,50,000 | 28.42% |
| - QIB (Ex. Anchor) | 11,04,000 | 19.02% |
| Non-Institutional Investors (NII/HNI) | 8,28,000 | 14.26% |
| Retail Individual Investors (RII) | 19,32,000 | 33.28% |
| Total Shares Offered | 58,05,000 | 100.00% |
Anchor Investor Insights:
Prior to the main IPO, Mayasheel Ventures raised ₹7.76 crore from anchor investors on June 19, 2025. These shares, totaling 16,50,000, are subject to specific lock-in periods:
- 50% of shares: Lock-in ends July 25, 2025 (30 days from allotment).
- Remaining shares: Lock-in ends September 23, 2025 (90 days from allotment).
Financial Health Check: A Glimpse at Performance
Mayasheel Ventures Limited has shown promising financial growth over the last three fiscal years. Examining their restated financial performance provides insights into their operational efficiency and profitability.
| Period Ended (March 31) | Assets (₹ Crore) | Revenue (₹ Crore) | Profit After Tax (PAT) (₹ Crore) | Net Worth (₹ Crore) | Reserves and Surplus (₹ Crore) | Total Borrowing (₹ Crore) |
|---|---|---|---|---|---|---|
| 2025 | 99.10 | 172.05 | 11.33 | 28.84 | 12.59 | 34.06 |
| 2024 | 92.56 | 131.14 | 6.51 | 24.09 | 0.00 | 35.05 |
| 2023 | 79.03 | 127.10 | 4.75 | 18.06 | 0.00 | 33.23 |
The company demonstrated a significant increase in revenue (31%) and profit after tax (74%) from FY2024 to FY2025, indicating strong recent performance.
Performance Metrics at a Glance (as of March 31, 2025):
- Market Capitalization: ₹103.64 Crores
- Return on Equity (ROE): 42.83%
- Return on Capital Employed (ROCE): 28.62%
- Debt/Equity Ratio: 1.60
- Return on Net Worth (RoNW): 42.83%
- PAT Margin: 6.63%
- Price to Book Value: 2.65
- Pre-IPO EPS: ₹6.98 | Pre-IPO P/E: 6.74x
- Post-IPO EPS: ₹5.14 | Post-IPO P/E: 9.14x
The impressive ROE and RoNW indicate efficient utilization of shareholder funds, while the PAT margin shows healthy profitability. The debt-to-equity ratio of 1.60 suggests a moderate reliance on debt for its operations.
Founders' Stake in the Future
The company's promoters are Mr. Amit Garg, Ms. Meenu Garg, and Mr. Prabhat Rajpoot. Their commitment to the company's future is reflected in their shareholding:
- Promoter Holding Pre-Issue: 91.97%
- Promoter Holding Post-Issue: 67.76%
A substantial post-issue promoter holding indicates continued confidence and alignment with shareholder interests.
Capital Deployment Strategy: Objectives of the Issue
The funds raised through this IPO are earmarked for strategic investments vital for Mayasheel Ventures' growth trajectory:
- Funding Capital Expenditure: Approximately ₹40 million is allocated for the purchase of essential equipment and machinery, which will enhance operational capacity and efficiency.
- Working Capital Requirements: A significant portion, around ₹140 million, will be utilized to fund the company's working capital needs, ensuring smooth day-to-day operations and project execution.
- General Corporate Purposes: The remaining funds will be deployed for general corporate activities, providing flexibility for future strategic initiatives, market expansion, or unforeseen contingencies.
Strategic Insights: A SWOT Perspective
A balanced assessment of Mayasheel Ventures' position reveals both opportunities and challenges:
Strengths (Internal Factors):
- Experienced and qualified management team.
- Strong track record and execution capabilities in complex infrastructure projects.
- Healthy and growing order book providing revenue visibility.
- Consistent financial growth in revenue and profitability.
Weaknesses (Internal Factors):
- High dependence on government tenders for revenue generation.
- Working capital-intensive nature of the construction business.
- Moderate debt-to-equity ratio, though common in the sector, still merits attention.
Opportunities (External Factors):
- Government's continued focus and investment in infrastructure development (roads, highways, etc.).
- Potential for geographical expansion or diversification into related construction segments.
- Growing demand for quality infrastructure in India.
Threats (External Factors):
- Intense competition from other established and emerging construction companies.
- Fluctuations in raw material prices and labor costs.
- Potential for regulatory changes or delays in government project approvals.
- Economic slowdown impacting infrastructure spending.
Connect with the Company and Registrar
For further inquiries or information, you can reach out to Mayasheel Ventures Limited and their IPO registrar:
Mayasheel Ventures Limited Contact Details:
- Address: IIIrd B-2, Flat No.8, IInd Nehru Nagar, Ghaziabad, Uttar Pradesh, 201001
- Phone: 0120-4265140
- Email: cs@mayasheelventures.com
- Website: www.mayasheelventures.com
IPO Registrar Details:
- Name: Maashitla Securities Private Limited
- Phone: +91-11-45121795-96
- Email: ipo@maashitla.com
- Website: maashitla.com
Conclusion
Mayasheel Ventures IPO presents an opportunity for investors to participate in a company operating in India's vital infrastructure sector. With a strong track record of growth, an experienced management team, and clear objectives for utilizing the IPO proceeds, the company aims to solidify its position in the market.
However, like any investment, it comes with its own set of risks, particularly those inherent to the construction industry and its reliance on government projects. Prospective investors are encouraged to conduct their own thorough due diligence, assess the company's fundamentals, and consider market conditions before making an investment decision. This IPO could indeed be a significant milestone for Mayasheel Ventures, potentially paving the way for sustained growth and value creation.