Mayasheel Ventures IPO is a book-built issue worth ₹27.28 crore. The IPO consists entirely of a fresh issue of 58.05 lakh equity shares. The subscription for the IPO opens on June 20, 2025, and closes on June 24, 2025. The basis of allotment is expected to be finalised on June 25, 2025. Mayasheel Ventures is proposed to be listed on the NSE SME platform, with a tentative listing date set for June 27, 2025.
The price band for the IPO is fixed between ₹44 and ₹47 per share. Retail investors must apply for a minimum of one lot, which includes 3,000 shares, translating to a minimum investment of ₹1,32,000. To improve allotment chances in case of oversubscription, bidding at the cutoff price, amounting to ₹1,41,000, is suggested. For HNI investors, the minimum application size is two lots (6,000 shares), requiring an investment of ₹2,82,000.
Narnolia Financial Services Limited is managing the issue as the book-running lead manager, while Maashitla Securities Private Limited is acting as the registrar. Prabhat Financial Services Limited is the designated market maker for the IPO.
Industry Outlook
- The Indian roads and highways market, currently valued at USD 152.16 billion in 2024, is projected to reach USD 266.60 billion by 2030, growing at a CAGR of 9.63%. This expanding market offers long-term project opportunities and consistent demand for infrastructure development.
- With India’s urban population expected to hit 600 million by 2030, the surge in private and commercial vehicles is pushing the need for multi-lane highways, expressways, and bypass roads. This growth drives demand for construction services, directly aligning with Mayasheel Ventures Limited’s project capabilities in road infrastructure.
- National Highways, though just 2% of India’s road length, carry over 40% of total traffic, showing high utilisation. Government initiatives like Bharatmala Pariyojana and the National Infrastructure Pipeline create strong opportunities for infrastructure companies.
Mayasheel Ventures IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- The company plans to use the funds to purchase new equipment and machinery, supporting future expansion and operational efficiency.
- A portion of the proceeds will be allocated to meet working capital needs, ensuring smooth day-to-day operations and timely project execution.
- A portion of the funds will be used for general corporate purposes to support overall business needs.
About Mayasheel Ventures Limited
Mayasheel Ventures Limited is engaged in the construction of roads and highways for government agencies such as the National Highways and Infrastructure Development Corporation Limited (NHIDCL) and other state departments. The company specialises in high-value and technically complex projects, including national highways, expressways, flyovers, bridges, and road-over bridges.
Recognised as a "Class A" contractor by the Uttar Pradesh Public Works Department (U.P.P.W.D.), the company holds the capability to execute large-scale infrastructure projects. It undertakes both EPC (Engineering, Procurement, and Construction) and BOQ (Bill of Quantity) based contracts, managing everything from design and procurement to execution and handover.
Mayasheel Ventures also engages in electrical infrastructure projects such as power houses, transmission lines, and streetlight installation. Although revenue from electrical works has not been recorded in the past 3 years, the company continues to pursue projects in this segment.
Operating primarily on a Business-to-Government (B2G) model, the company has completed over 65 projects. As of March 31, 2025, it holds an order book worth ₹20,160.89 lakh. A notable milestone includes the 14.401 km two-lane road project on NH 129A in Nagaland under NHIDCL.
Founded in 2008 as Mayasheel Construction, the company is ISO certified and known for meeting quality, environmental, and safety standards in infrastructure development.
How To Check the Allotment Status of Mayasheel Ventures IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
How To Apply for the Mayasheel Ventures IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Mayasheel Ventures IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
Contact Details of Mayasheel Ventures IPO
Registered office: IIIrd B-2, Flat No.8, IInd, Nehru Nagar, Ghaziabad, Uttar Pradesh- 201001, India
Phone:0120-4265140
E-mail:cs@mayasheelventures.com
Mayasheel Ventures IPO Reservation
|
Investor Category |
Shares Offered |
|
Anchor Investor Shares |
16,50,000 (22.13%) |
|
Market Maker Shares |
2,91,000 (3.90%) |
|
QIB Shares |
11,04,000 (14.81%) |
|
NII (HNI) Shares |
8,28,000 (11.11%) |
|
Retail Shares |
19,32,000 (25.92%) |
|
Total Shares |
74,55,000 (100%) |
Mayasheel Ventures IPO Lot Size
|
Application |
Lots |
Shares |
Amount |
|
Retail (Min) |
1 |
3,000 |
₹1,32,000 |
|
Retail (Max) |
1 |
3,000 |
₹1,41,000 |
|
HNI (Min) |
2 |
6,000 |
₹2,82,000 |
Mayasheel Ventures IPO Promoter Holding
Mr. Amit Garg, Ms. Meenu Garg and Mr. Prabhat Rajpoot are the promoters of the company.
|
Share Holding Pre-Issue |
91.97% |
|
Share Holding Post Issue |
67.76% |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Mayasheel Ventures IPO Anchor Investors Details
|
Particulars |
Details |
|
Anchor Investment Date |
June 19, 2025 |
|
Total Shares Allocated to Anchor Investors |
16,50,000 |
|
Total Amount Raised from Anchor Investors |
₹7.76 crore |
|
Lock-in Period End Date for 50% of Anchor Allotment |
July 25, 2025 |
|
Lock-in Period End Date for Remaining 50% Shares |
September 23, 2025 |
Key Performance Indicators for Mayasheel Ventures IPO
|
KPI |
Value |
|
ROE (%) |
42.83 |
|
RoCE (%) |
28.62 |
|
Price to Book Value |
2.65 |
|
PAT Margin |
6.63 |
|
Debt/Equity |
1.60 |
Mayasheel Ventures IPO Prospectus
Mayasheel Ventures IPO Registrar and Lead Managers
Mayasheel Ventures IPO Lead Managers
- Narnolia Financial Services Limited
Registrar for Mayasheel Ventures IPO
Maashitla Securities Private Limited
- Contact Number: +91-11-45121795-96
- Email Address: ipo@maashitla.com
Mayasheel Ventures IPO Registrar
Financial Performance of Mayasheel Ventures Limited
| Particulars | Year ending on March 31, 2025 | Year ending on March 31, 2024 |
|---|---|---|
| Revenue from Operation (in ₹ lakh) | 17,100.81 | 13,032.34 |
| Profit/ (loss) for the year (in ₹ lakh) | 1,133.47 | 651.35 |
| Earnings per Share (₹) | 7.23 | 4.34 |
| Net Worth (in ₹ lakh) | 2,883.96 | 2,409.19 |
| Return on Equity (RoE) (%) | 42.83 | 30.90 |
| Return on Capital Employed (RoCE) | 28.62 | 20.43 |
| EBITDA (in ₹ lakh) | 2,567.21 | 1,730.34 |
Know before investing
Strengths
8Promoters bring over 35 years of combined construction industry experience.
Holds ISO 9001, 14001, and 45001 certifications for quality standards.
Strong order book worth ₹20,160.19 lakh as on March 2025.
Completed 75 projects totalling ₹82,979.82 lakh with timely delivery.
Focused expansion in states like Assam, Nagaland, and beyond.
Specialises in roads and highways to secure more government projects.
Consistently upgrades technology to reduce costs and boost profitability.
Skilled project team ensures smooth execution and strong client satisfaction.
Risks
8₹20,160.19 lakh order book mostly depends on NHIDCL contracts.
Revenue concentration in Assam, Manipur, Nagaland increases regional risk.
Legal proceedings pending may affect business, operations, and financials.
Pending loans in the old firm’s name pose financial uncertainty.
Negative cash flows reported in past years from core activities.
Monsoons and delays may disrupt project timelines and revenue flow.
Delays in machinery orders may increase costs and reduce profits.
Insurance coverage may be insufficient against large-scale business losses.
Mayasheel Ventures IPO Peer Comparison
| Company Name | EPS (Basic) | NAV (per share) (₹) | P/E (x) | RoNW (%) |
|---|---|---|---|---|
| Mayasheel Ventures Limited | 7.23 | 17.75 | 6.74 | 42.83 |
| Rachana Infrastructure Limited | 0.16 | 50.58 | 210.94 | 0.32 |
| Avp Infracon Limited | 13.25 | 50.51 | 12.32 | 30.19 |
