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20 Jun, 2025
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.
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.
Mayasheel Ventures Limited 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.**
Mayasheel Ventures Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | June 20, 2025 to June 24, 2025 |
| Listing Date | - |
| Face Value | ₹10 per share |
| Issue Price Band | ₹44 to ₹47 per share |
| Lot Size | 3,000 Shares |
| Total Issue Size (Ex Market Maker) | 55,14,000 shares (aggregating up to ₹25.92 Cr) |
| Fresh Issue (Ex Market Maker) | 55,14,000 shares (aggregating up to ₹25.92 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,62,45,000 shares |
| Share Holding Post Issue | 2,20,50,000 shares |
| Market Maker Portion | 2,91,000 shares |
Mayasheel Ventures Limited IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | Fri, Jun 20, 2025 |
| IPO Close Date | Tue, Jun 24, 2025 |
| Tentative Allotment | Wed, Jun 25, 2025 |
| Initiation of Refunds | Thu, Jun 26, 2025 |
| Credit of Shares to Demat | Thu, Jun 26, 2025 |
| Tentative Listing Date | Fri, Jun 27, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 24, 2025 |
Mayasheel Ventures Limited IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹1,41,000 |
| Retail (Max) | 1 | 3000 | ₹1,41,000 |
| HNI (Min) | 2 | 6000 | ₹2,82,000 |
Mayasheel Ventures Limited IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| 91.97% | 67.76% |
Competitive Strength:
- ● Seasoned leadership with over 35 years of experience and strong government relationships, facilitating contract wins.
- ● Robust order book of ₹201.6 crore as of March 2025, with a proven track record of executing complex projects on time and within quality standards.
- ● Diversified operations across civil and electrical infrastructure, enhancing revenue stability.
- ● Strong financial performance with a high return on equity (42.83%) and a post-issue price-to-earnings (P/E) ratio of 9.14, indicating attractive valuation.
Mayasheel Ventures Limited IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2025 | 99.1 | 172.05 | 11.33 | 28.84 | 34.06 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2024 | 92.56 | 131.14 | 7 | 24.09 | 35.05 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 79.03 | 127.1 | 4.75 | 18.06 | 33.23 | |||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 42.83% |
| ROCE | 28.62% |
| Debt/Equity | 1.6 |
| RoNW | 42.83% |
| PAT Margin | 6.63% |
| EBITDA Margin | 15.01% |
| Price to Book Value | 2.65 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 6.98 | 5.14 |
| P/E (x) | 6.74 | 9.14 |
IPO Objectives
The net proceeds from the IPO will be utilized for:
- Capital expenditure of ₹4 crore towards purchasing new equipment and machinery to enhance execution capabilities.
- Working capital requirements amounting to ₹14 crore to support ongoing project demands.
- General corporate purposes to strengthen overall business operations and competitiveness.
Conclusion
Mayasheel Ventures Limited's IPO offers investors an opportunity to participate in a growing government-focused infrastructure company with a strong track record and expanding order book. The fresh capital raised will support capacity expansion and working capital needs, positioning the company to take on larger and more complex projects. Given its solid financial performance and government ties, the IPO could be attractive for investors seeking exposure to the infrastructure sector.
RHP:
DRHP:
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Frequently asked Questions (FAQs )
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1. What is the price band for Mayasheel Ventures IPO?
The price band is fixed between ₹44 and ₹47 per share.
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2. How many shares are being offered in the IPO?
The IPO comprises a fresh issue of 58,05,000 equity shares.
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3. What is the minimum investment required for retail investors?
Retail investors need to apply for a minimum of 3,000 shares, amounting to approximately ₹1.41 lakh.
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4. When will the shares be listed?
The tentative listing date is June 27, 2025, on the NSE Emerge platform.
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5. What are the main business activities of Mayasheel Ventures?
The company is engaged in road, highway, bridge construction, and electrical infrastructure projects primarily for government agencies.
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6. How will the IPO proceeds be used?
Proceeds will fund capital expenditure on machinery, working capital requirements, and general corporate purposes.
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7. Who are the key management personnel?
Mr. Amit Garg is the Managing Director, supported by directors Meenu Garg, Anil Garg, and others. Mahendra Sharma is the CFO, and Neelam Rani is the Company Secretary.
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8. What are the financial highlights of the company?
For FY25, revenue was ₹172.05 crore with a net profit of ₹11.33 crore, showing year-on-year growth of 31% in revenue and 74% in profit.
