Mayasheel Ventures Limited IPO

Mayasheel Ventures Limited launched its Initial Public Offering (IPO) on June 20, 2025, aiming to raise ₹27.28 crore through a fresh issue of 58,05,000 equity shares. The price range for the IPO was set at ₹44 to ₹47 per share. With a minimum lot size of 3,000 shares and a minimum investment of roughly ₹1.41 lakh for retail investors, the subscription period ended on June 24, 2025. With a tentative listing date of June 27, 2025, the shares are intended to be offered on the NSE Emerge platform. The book-running lead manager is Narnolia Financial Services Ltd, and Maashitla Securities Pvt Ltd is the registrar.

Company Background

Mayasheel Ventures Limited was incorporated on May 30, 2024, and is now a public limited company headquartered in Ghaziabad, Uttar Pradesh. Despite its recent incorporation as a public company, the business traces its operational history back to 2008, originally established as Mayasheel Construction. It is a government-certified "Class A" contractor specializing in infrastructure development, primarily focusing on road construction, highways, bridges, flyovers, and electrical projects. With a workforce of about 237 on-roll and 180 off-roll personnel, the company has finished more than 32 civil contracts and 26 electrical projects.

Operations & Product Range

Facility & Production:
Mayasheel Ventures operates primarily in the civil construction and electrical infrastructure sectors. Its projects include expressways, national highways, bridges, flyovers, drainage systems, transmission lines, street lighting, and power house construction. The company executes projects on EPC (Engineering, Procurement, and Construction) and BOQ (Bill of Quantities) bases, mainly for government agencies such as NHIDCL. As of March 31, 2025, it held an order book valued at approximately ₹201.6 crore.

Brands & Market Presence:
The company is recognized as a prominent government contractor with a strong presence in Uttar Pradesh and northeastern India. It maintains a reputation for quality and timely delivery, having completed over 75 projects worth ₹829.8 crore. Its clientele primarily consists of government departments, leveraging its "Class A" contractor status.

Revenue Channels

Mayasheel Ventures generates revenue mainly through government contracts for infrastructure projects, including road and highway construction, bridge building, and electrical works. Its revenue for FY25 was ₹172.05 crore, marking a 31% increase from ₹131.14 crore in FY24. Profit after tax rose by 74% year-on-year to ₹11.33 crore in FY25, reflecting strong operational performance and execution capabilities.

Management & Shareholding

Promoters & Shareholding:
The company is promoted by the Garg family, with Mr. Amit Garg serving as Chairman and Managing Director. Other key promoters include Meenu Garg and Anil Garg (Whole-Time Director). The company is governed by eight directors in total.

Board Members:

The board of members includes Amit Garg, Meenu Garg, Anil Garg, Umesh Bansal, Rajpal Singh, and Prabhat Rajpoot. Supporting the board are Mahendra Sharma and Neelam Rani, who contribute to the company’s financial and compliance functions. Together, this team brings a balanced mix of leadership, experience, and strategic direction to the organization.