IPO Details

Bidding Dates

29 Jan '24 - 31 Jan '24

Minimum Investment

₹129,600 / 1 Lots ( 1200 Shares )

Price Range


Maximum Investment

₹129,600 / 1 Lots ( 1200 Shares )

Retail Discount

Not Applicable

Issue Size

₹19.44 Cr

Investor category and sub category

Non-Institutional Buyers  |   Retail Investors   |   Total  |  

IPO Dates

Important dates with respect to IPO allotment and listing

Opening Date

Jan 29, 2024

Closing Date

Jan 31, 2024

Basis of Allotment

Feb 1, 2024

Initiation of Refunds

Feb 2, 2024

Credit of Shares to Demat

Feb 2, 2024

Listing Date

Feb 5, 2024

Cut-off time for UPI mandate confirmation

Jan 31, 2024

IPO Subscription Details


Day 1Jan 29, 2024

0.46x 1.10x 0.78x

IPO Subscription Live Status

Investor Category Subscription (Times)
Non-Institutional Buyers 0.46
Retail Investors 1.10
Total 0.78

About Company

Mayank Cattle Food Ltd was established in 1998 to manufacture maize cake which is a type of cattle feed, and maize oil, which is non-edible but can be processed into edible oil by refining companies. The business process involves the purchase of the maize germ, then mechanised expelling, packaging and selling of the maize oil and maize cake. They operate out of a single manufacturing facility located in the strategic location on the Rajkot Jamnagar Highway that provides easy access to raw materials and transportation.

The company has a customer base covering states like Gujarat, Delhi and Maharashtra. They mainly market their products through different revenue channels, including marketing agents, brokers and direct-to-consumers. In the year 2020, Mayank Cattle Feed setup environment-friendly solar power panels of 150kva at their factory premises for captive consumption by the company.

India is a major net exporter of animal feed. In the last 5 years. India witnessed an 11.4% CAGR in animal feed exports over a span of 5 years. The primary foreign markets for India are Bangladesh, Vietnam, etc. India’s own market for cattle feed has been expanding at a CAGR of 15%. Such a growing market can present an opportunity for future growth to an organised player like Mayank Cattle Feed. Moreover, as 56% of domestic edible oils is met through imports, there is also a major opportunity in the domestic market for edible oil-related operations of Mayank Cattle Feed.

Mayank Cattle Food Ltd IPO Details

Mayank Cattle Food Ltd IPO Date

The dates for bidding for the Mayank Cattle Food IPO are January 29, 2024, to January 31, 2024.

Mayank Cattle Food Ltd IPO Price Band

Mayank Cattle Food is a fixed-price IPO. The exact price range is ₹108 per share.

Mayank Cattle Food Ltd IPO Lot Size

The Mayank Cattle Food Ltd IPO lot size is 1,200 shares per lot.

Mayank Cattle Food Ltd IPO Objectives 

The net proceeds from the issue are proposed to be utilised towards the following objects: 

  1. Funding capital expenditure toward the purchase of additional plant and machinery.
  2. Working capital requirement
  3. Issue related expenses
  4. General corporate expenses

Peer Details

There are no listed peer companies of Mayank Cattle Food in India.

How To Check the Allotment Status of the Mayank Cattle Food Ltd IPO?

A: Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app.
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of Mayank Cattle Food Ltd 

Registered office: R. S. No. 162, Rajkot Jamnagar Highway, Near Khandheri Stadium, Vill. Naranka, Tal. Paddhari, Rajkot, Gujarat, 360110, India

Phone: +91 90333 33123

E-mail: cs@mayankcattlefood.com

Company Financials

Financial year Year Ending on March 31, 2023 Year Ending on March 31, 2022 Year Ending on March 31, 2021
Total Revenue 30,958.14 32,300.17 18,652.89
Profit After Tax 131.43 79.92 71.81
Return on Capital Employed 11.27% 9.91% 10.58%
Debt Service Coverage Ratio 2.04 1.94 1.85
Current Ratio 1.16 1.41 1.39

Know before investing


  1. The company started its operations in the year 1998, and since then they have witnessed consistent and stable growth. This allows them to access a high degree of experience, especially among its promoters.

  2. The company also has long-standing relations with its suppliers that allow it a higher degree of flexibility and trust than its potential competitors.

  3. Their focus is presently on increasing sales volume through expansion, diversification and spread in geographical outreach.


  1. In the financial year ended March 31, 2023, March 31, 2022, and March 31, 2021, the top ten suppliers of Mayank Cattle Feed accounted for 82.24%, 74.47% and 75.29% of its total purchases, respectively. This presents a significant concentration of suppliers that may put its supply chain at risk.

  2. The company operates its manufacturing process out of a single facility in Gujarat. Any issues that disrupt that single facility’s operations may jeopardise the company’s overall operations.

  3. The company has experienced negative cash flow overall in the past three financial years, despite having a profit in those years This may present a risk of mismanagement of cash flow.

  • How to Apply in IPO
  • How to Check IPO Allotment Status

Login to Angel One App / Website & click on IPO

Select desired IPO & tap on "Apply"

Enter UPI ID, set quantity/price & submit

Accept mandate on the UPI app to complete the process

Login to Angel One App / Website

Choose IPO section on Home Page

Click IPO Orders

Chose the IPO application you want to view the status for

Mayank Cattle Food Ltd IPO FAQs

What is Mayank Cattle Food Ltd's IPO?

Mayank Cattle Food IPO is a fixed-price IPO. The dates for the IPO are January 29, 2024, to January 31, 2024.

When will Mayank Cattle Food Ltd's IPO be allotted?

The basis of allotment will be finalised on Thursday, February 1, 2024. The credit of shares to the demat accounts will take place on Friday, February 2, 2024.


When will Mayank Cattle Food Ltd's IPO open for subscription?

The IPO subscription window is from January 29, 2024, to January 31, 2024.


What minimum lot size can retail investors subscribe to?

The lot size for the IPO will be 1,200 shares per lot.

When will Mayank Cattle Food Ltd list on exchanges?

Mayank Cattle Food Ltd will be listed on the NSE Emerge on Monday, February 5, 2024.

What would be the listing gains on the Mayank Cattle Food Ltd IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange. The date of listing is Monday, February 5, 2024.

I have finished the application process for the Mayank Cattle Food Ltd IPO, but the funds still need to be debited. What is the reason?

nitially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.

How do I approve the UPI mandate request for Mayank Cattle Food Ltd's IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Mayank Cattle Food Ltd using one PAN?

You can submit only one application using your PAN card.