Mayasheel Ventures IPO will open for subscription on June 20, 2025, and close on June 24, 2025. This is a Book Build Issue through which the company aims to raise approximately ₹27.28 crores, entirely through a fresh issue, while details of the offer for sale are yet to be disclosed. The IPO price band is set between ₹44 to ₹47 per share, with a face value of ₹10 per equity share. The allotment is expected on June 25, 2025, and the shares are scheduled to list on NSE on June 27, 2025. The issue is allocated with 50% for QIBs, 35% for retail investors, and 15% for HNIs. Financially, the company has shown strong growth, reporting revenue of ₹172.05 crores in FY 2025, up from ₹131.14 crores in FY 2024, and a net profit of ₹11.33 crores compared to ₹6.51 crores in the previous year. Based on this performance, the IPO appears suitable for long-term investment.
Mayasheel Ventures IPO Date & Price Band Details
| Category | Details |
|---|---|
| IPO Open Date: | June 20, 2025 |
| IPO Close Date: | June 24, 2025 |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹44 to ₹47 Per Share |
| Issue Size: | Approx ₹27.28 Crores |
| Fresh Issue: | Approx ₹27.28 Crores |
| Issue Type: | Book Build Issue |
| IPO Listing: | NSE SME |
| Retail Quota: | Not more than 35% |
| QIB Quota: | Not more than 50% |
| NII Quota: | Not more than 15% |
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | Click Here |
Mayasheel Ventures Company Overview, Strengths, and Risks
Mayasheel Ventures Limited is an Indian infrastructure development company primarily engaged in the construction of roads, highways, bridges, and other civil infrastructure projects. They also undertake electrical works, though this segment has not generated significant revenue in recent years. The company operates predominantly on an Engineering, Procurement, and Construction (EPC) and Bill of Quantity (BOQ) basis, serving government departments like NHIDCL (National Highways and Infrastructure Development Corporation Ltd.) and other public sector entities. Mayasheel Ventures holds a “Class A” government contractor certification, enabling them to bid on large-scale and complex government projects.
Company Overview:
- Incorporation: May 2008 (originally as a partnership firm, later incorporated as a public limited company on May 30, 2024).
- Headquarters: Ghaziabad, Uttar Pradesh, India.
- Core Business Segments:
- Construction Works: Roads, highways, expressways, flyovers, bridges, road drain & sewerage systems.
- Electrical Works: Electrical powerhouses, transmission lines, streetlights, single-phase electronic energy meter installations. (Currently a very small portion of revenue).
- Clientele: Primarily government departments, operating on a Business-to-Government (B2G) model.
- Promoters: Mr. Amit Garg, Ms. Meenu Garg, and Mr. Prabhat Rajpoot.
- Financial Performance (as of March 31, 2025):
- Revenue: ₹172.05 crore
- Profit After Tax (PAT): ₹11.33 crore
- Net Worth: ₹28.84 crore
- Order Book (as of March 2025): ₹201.60 crore
Strengths:
- Experienced Management Team: The company boasts a qualified and experienced management team in construction and civil engineering.
- Strong Order Book: Mayasheel Ventures has a robust order book for road, highway, and bridge construction projects, indicating a strong revenue pipeline for the future.
- Project Management and Execution Capabilities: The company demonstrates strong project management and execution capabilities, leading to efficient project delivery and cost control.
- Government-Certified “Class A” Contractor: This certification allows them to undertake large-scale and technically complex government projects, providing a significant competitive advantage in the public sector.
- Quality Assurance: The company is committed to product quality and holds ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certifications for quality, environmental, and occupational health and safety management systems, respectively.
- Diversified Operations (within infrastructure): While construction is dominant, their presence in electrical works offers potential for future diversification.
- Improving Financials: The company has shown consistent revenue and PAT growth in recent financial years, along with improving return metrics like ROCE and ROE.
Risks:
- Heavy Reliance on Government Tenders: The company’s revenue is heavily dependent on government contracts. Any changes in government policies, regulatory frameworks, or delays in public sector funding could significantly impact their business.
- Highly Competitive and Fragmented Sector: The infrastructure development sector in India is highly competitive and fragmented, which can lead to pricing pressures and challenges in securing new contracts.
- Geographic Concentration: While they have expanded to Northeast India, a significant portion of their past projects have been concentrated in Uttar Pradesh, which could expose them to regional economic or political risks.
- Limited Revenue from Electrical Works: Despite being a stated business segment, the electrical works segment has not contributed significantly to revenue in recent financial years, indicating a lack of diversification in actual revenue streams.
- Working Capital Intensive Business: Construction projects often require substantial working capital. While the IPO proceeds aim to address this, efficient management of working capital remains crucial.
- Contingent Liabilities: The company has contingent liabilities, which could materialize into actual financial obligations.
- SME IPO Risks: As an SME listed company, it may face lower liquidity and higher volatility compared to mainboard listed companies.
Mayasheel Ventures IPO Market Lot
The Mayasheel Ventures IPO has a minimum market lot of 3,000 shares, requiring an application amount of ₹1,41,000.
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 3,000 | ₹1,41,000 |
| Retail Maximum | 1 | 3,000 | ₹1,41,000 |
| S-HNI Minimum | 2 | 6,000 | ₹2,82,000 |
Mayasheel Ventures IPO Allotment & Listing Dates
The Mayasheel Ventures IPO will open on June 20, 2025, and close on June 24, 2025. The IPO allotment is expected to be finalized on June 25, 2025, and the shares are scheduled to be listed on NSE on June 27, 2025.
| Type | Date |
|---|---|
| IPO Open Date: | June 20, 2025 |
| IPO Close Date: | June 24, 2025 |
| Basis of Allotment: | June 25, 2025 |
| Refunds: | June 26, 2025 |
| Credit to Demat Account: | June 26, 2025 |
| IPO Listing Date: | June 27, 2025 |
Mayasheel Ventures IPO: Promoters
The promoters of Mayasheel Ventures are Mr. Amit Garg, Ms. Meenu Garg, and Mr. Prabhat Rajpoot.
Mayasheel Ventures IPO Company Financial Report
The company reported a revenue of ₹122.04 crores in FY 2025, compared to ₹118.72 crores in FY 2024. It also posted a net profit of ₹11.70 crores in 2025, up from ₹7.84 crores in 2024, reflecting consistent growth in both top-line and bottom-line performance.
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax | Assets |
|---|---|---|---|---|
| 2023 | ₹127.10 | ₹120.61 | ₹4.75 | ₹79.03 |
| 2024 | ₹131.14 | ₹122.45 | ₹6.51 | ₹92.56 |
| 2025 | ₹172.05 | ₹156.37 | ₹11.33 | ₹99.10 |
Mayasheel Ventures IPO Valuation – FY2025
| KPI | Values |
|---|---|
| ROE: | 42.83% |
| ROCE: | 28.62% |
| EBITDA Margin: | 15.01% |
| PAT Margin: | 6.63% |
| Debt to equity ratio: | 1.60 |
| Earning Per Share (EPS): | ₹7.23 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 42.83% |
| Net Asset Value (NAV): | ₹17.73 |
Mayasheel Ventures Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Rachana Infrastructure Limited | 0.16 | 210.94 | 0.32% | 50.58 | 0.30 Cr. |
| AVP Infracon Limited | 13.25 | 12.32 | 30.19% | 50.51 | 33.10 Cr. |
Objects of the Issue – Mayasheel Ventures IPO
- Funding capital expenditure requirements for the purchase of equipment and machineries
- Meeting working capital requirements
- General corporate purposes
Mayasheel Ventures IPO Review
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Mayasheel Ventures IPO Registrar
Maashitla Securities Private Limited
Phone: +91-11-45121795-96
Email: ipo@maashitla.com
Website: https://maashitla.com/allotment-status/public-issues
Mayasheel Ventures IPO Lead Managers aka Merchant Bankers
- Narnolia Financial Services Ltd
Company Address
Mayasheel Ventures Limited
IIIrd B-2,
Flat No.8, IInd
Nehru Nagar
Ghaziabad, Uttar Pradesh
Phone: 0120-4265140
Email: cs@mayasheelventures.com
Website: https://www.mayasheelventures.com/
FAQs on Mayasheel Ventures IPO
The IPO opens on June 20, 2025, and closes on June 24, 2025.
The price band is ₹44 to ₹47 per equity share.
The minimum lot size is 3,000 shares, requiring an application amount of ₹1,41,000.
The IPO aims to raise approximately ₹27.28 crores through a fresh issue.
The allotment is expected to be finalized on June 25, 2025.
The shares are scheduled to list on NSE SME on June 27, 2025.
The face value of each share is ₹10.
The promoters are Mr. Amit Garg, Ms. Meenu Garg, and Mr. Prabhat Rajpoot.
The funds will be used for equipment purchase, working capital, and general corporate purposes.
Based on its financial performance and strong order book, it may be suitable for long-term investors.
