IPO Alert: Mahamaya Lifesciences to Open for Subscription on November 11

Gurugram-based pesticide and crop protection manufacturer Mahamaya Lifesciences is set to enter the public markets next week. The company has announced its initial public offering (IPO), aiming to raise capital to scale operations and expand manufacturing capacity amid rising demand from domestic and multinational agrochemical players.

Key Development - IPO Structure, Dates & Pricing

The IPO opens for subscription on 11 November and closes on 13 November, with a price band of ₹108–₹114 per share. The issue size is ₹70.4 crore, comprising:

• Fresh issue: 56.38 lakh shares
• Offer for sale (OFS): 5.4 lakh shares by promoter Krishnamurthy Ganesan and his spouse

The anchor book for institutional buyers will open on November 10, allotment is scheduled for November 14, and the stock is expected to list on the BSE SME platform on November 18.

Use of Funds & Business Overview

Proceeds from the fresh issue will be deployed as follows:

• ₹29.4 crore: establishment of a new technical manufacturing plant
• ₹3.75 crore: purchase of equipment for the existing formulation unit
• ₹2.5 crore: warehouse construction and machinery
• ₹18 crore: working capital
• Balance: general corporate purposes

Founded in 2002, Mahamaya Lifesciences manufactures pesticide formulations and bulk products used by leading Indian agrochemical firms and multinational corporations. The company competes with listed peers such as Nova Agritech and Bhagiradha Chemicals & Industries.

Read More: IPO Alert: Gaja Capital Gets SEBI Approval to Raise Funds!

Conclusion

The upcoming IPO marks the next phase of Mahamaya Lifesciences’ expansion plans, with proceeds directed towards capacity enhancement, new manufacturing capabilities and strengthening of working capital.

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