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14 Nov, 2025
Mahamaya Lifesciences IPO
Mahamaya Lifesciences IPO is an SME IPO of 1,076,000 equity shares with a face value of ₹10 aggregating up to ₹4.30 crores. The company plans to raise ₹70.44 crores through a book-built process, with the price band set at ₹108–₹114 per share. The market lot is 2,400 shares, and it is going for listing on the BSE SME Exchange on November 18th, 2025.
Company Background
Founded in 2002 and headquartered in New Delhi, Mahamaya Lifesciences Ltd. is a leading manufacturer and supplier of pesticide formulations, including bulk formulations for both Indian agrochemical companies and multinational corporations (MNCs). The company is focused on biological (natural) crop care—bio-stimulants, plant growth regulators, bio-fertilizers, and new environmentally safe pesticides. Mahamaya began the business of importing and registering critical pesticide molecules with the Central Insecticides Board and Registration Committee (CIBRC), followed by Indian sales and exports.
Operations and Product Range
Facility and Production
Mahamaya Lifesciences has established its own manufacturing plant at Dahej, Gujarat, which became operational in December 2021. The facility focuses on large-scale formulation production, enabling bulk branded product supply both domestically and internationally.
Brands and Market Presence
The company utilizes a strong dealer network of over 300 dealers in the states of Punjab, Haryana, Rajasthan, Uttar Pradesh, Gujarat, Maharashtra, Andhra Pradesh, and Telangana. It exports internationally to the Dominican Republic, Turkey, Egypt, and the UAE. Mahamaya has built a product profile comprising novel, low-toxic products aimed toward sustainable agriculture and safer crop protection.
Revenue Channels
The Mahamaya Lifesciences IPO’s revenue streams consist largely of sales of technical molecules, including branded formulations and bulk contract manufacturing to Indian and multinational customers. Total revenue increased from ₹90.16 crore in FY22 to ₹162.83 crore in FY24, while EBITDA margins improved to 8.20% on a year-on-year basis from 6.64%.
Management and Shareholding
Promoters and Shareholding
The Mahamaya Lifesciences IPO is promoted by Mr. Krishnamurthy Ganesan, Mrs. Lalitha Krishnamurthy, and Mr. Prashant Krishnamurthy. The company’s management has expertise in agricultural chemicals, regulatory affairs, distribution, and exports. The promoter holding pre-IPO is around 77.27%, while post-IPO, promoters will hold around 64.32%, indicating some dilution but retaining significant control over the company.
Board Composition
Mahamaya Lifesciences IPO’s board comprises Mr. Krishnamurthy Ganesan (Managing Director), with 40 years of experience in the agrochemical sector, Mrs. Lalitha Krishnamurthy (Whole-time Director), and Mr. Prashant Krishnamurthy (Executive Director), concentrating on business operations and exports promotion. The company also has independent directors with financial and corporate governance expertise to support growth and compliance.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Mahamaya Lifesciences IPO
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Mahamaya Lifesciences IPO Details
| Detail | Description |
|---|---|
| IPO Date | November 11, 2025 to November 13, 2025 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Issue Price Band | ₹108 to ₹114 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 61,78,800 shares (aggregating up to ₹70.44 Cr) |
| Reserved for Market Maker | 3,09,600 shares (aggregating up to ₹3.53 Cr) Mansi Share & Stock Broking Pvt.Ltd. |
| Fresh Issue(Ex Market Maker) | 53,29,200 shares (aggregating up to ₹60.75 Cr) |
| Offer for Sale | 5,40,000 shares of ₹10 (aggregating up to ₹6.16 Cr) |
| Net Offered to Public | 58,69,200 shares (aggregating up to ₹66.91 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,77,66,200 shares |
| Share Holding Post Issue | 2,34,05,000 shares |
Mahamaya Lifesciences IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | Tue, Nov 11, 2025 |
| IPO Close Date | Thu, Nov 13, 2025 |
| Tentative Allotment | Fri, Nov 14, 2025 |
| Initiation of Refunds | Mon, Nov 17, 2025 |
| Credit of Shares to Demat | Mon, Nov 17, 2025 |
| Tentative Listing Date | Tue, Nov 18, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Nov 13, 2025 |
Mahamaya Lifesciences IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2,400 | ₹2,73,600 |
| Individual investors (Retail) (Max) | 2 | 2,400 | ₹2,73,600 |
| S-HNI (Min) | 3 | 3,600 | ₹4,10,400 |
| S-HNI (Max) | 7 | 8,400 | ₹9,57,600 |
| B-HNI (Min) | 8 | 9,600 | ₹10,94,400 |
Mahamaya Lifesciences IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| Promoter Holding Pre Issue | 77.27% |
| Promoter Holding Post Issue | 56.35% |
Competitive Strength:
- • Ability to quickly register and launch vital technical molecules for Indian and global markets.
- • Proven expertise in building and growing branded crop care products across various geographies.
- • Warehouse building and machinery acquisition.
- • For general corporate purposes and working capital needs.
Mahamaya Lifesciences IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 30 Jun 2025 | 218.87 | 84.04 | 4.1 | 53.5 | 57.72 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2025 | 188 | 267 | 13 | 49 | 58.11 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2024 | 112.07 | 162.83 | 5.22 | 24.66 | 54.63 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 77.88 | 137.4 | 3.75 | 19.44 | 24.37 | |||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| 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 | 9.4 |
| Market Capitalization | 266.82 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 7.29 | 7 |
| P/E (x) | 15.65 | 16 |
Mahamaya Lifesciences IPO Objectives
The funds from the IPO will be utilized for:
- • Equipment purchase for the existing formulation plant.
- • Capex to fund the construction of a new technical manufacturing facility.
- • Warehouse building and machinery acquisition.
- • General corporate purposes and working capital needs.
Conclusion
Mahamaya Lifesciences IPO offers an investment opportunity for investors with clear benefits. Its SME IPO platform and focus on eco-friendly agricultural inputs—cheaper than chemical fertilizers—come with a wide range of products. The increasing coverage of Indian and export markets is also enhancing the company’s sales potential. The combination of increased revenue, innovation, and a robust distribution network supports future scalability and profitability in the agrochemical sector.
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Frequently asked Questions (FAQs )
-
What is the IPO size and price band?
The size of the IPO is ₹70.44 crores and the price band is between ₹108 to ₹114 per share.
-
Who are the promoters of Mahamaya Lifesciences IPO?
The company is promoted by Mr. Krishnamurthy Ganesan, Mrs. Lalitha Krishnamurthy and Mr. Prashant Krishnamurthy.
-
What are the primary goals of an IPO?
Mahamaya Lifesciences IPO proceeds will be used in new plant equipment capex, warehouse/machinery working capital and general corporate purposes.
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What is the product range?
Its products comprise bio-stimulants, fungicides, insecticides and branded crop care formulations.
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How has the company performed financially?
Revenue increased to ₹162.83 crore in FY24, with an upside of EBITDA margins.
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