Mahamaya Lifesciences Limited Announces ₹70.44 Crore IPO Opening November 11
06 November 2025, New Delhi: Mahamaya Lifesciences Limited, a manufacturer and exporter of crop protection products and bioproducts, will launch its Initial Public Offering (IPO) to raise ₹70.44 crore through a Book Building issue. The IPO includes a fresh issue of 53,29,200 equity shares amounting to ₹60.75 crore and an Offer for Sale of 5,40,000 equity shares totalling ₹6.16 crore. The offer will open for public subscription on November 11, 2025 and close on November 13, 2025. The basis of allotment is set for November 14, 2025, and the company’s equity shares are proposed to list on the BSE SME platform on November 18, 2025.
The funds raised through the fresh issue will be used to expand the company’s current formulation plant and to establish a technical manufacturing facility in Dahej, Gujarat.
The IPO price band is between ₹108 and ₹114 per equity share with a face value of ₹10. The minimum market lot is 1,200 shares. The minimum investment for retail investors is ₹2,73,600 for two lots (2,400 shares), while the minimum investment for S-HNI investors is ₹4,10,400 for three lots (3,600 shares). The Anchor Investor portion opened on November 10, 2025 and raised ₹19.97 crore.
Mahamaya Lifesciences Limited was incorporated in 2002 and works in the registration and manufacturing of pesticide formulations for domestic and export markets. The company supplies bulk formulations to Indian agrochemical companies and multinational corporations. It holds product registrations in several countries including the Dominican Republic, Egypt, Ethiopia, Jordan, UAE, and Turkey. Its product range includes Acetamiprid, Buprofezin, Emamectin Benzoate, Imidacloprid, Bispyribac Sodium, and Pretilachlor in various grades and formulations.
The company’s financial performance for recent years shows growth. As per restated consolidated results, Mahamaya Lifesciences recorded revenue of ₹267.17 crore and profit after tax (PAT) of ₹12.94 crore for FY 2024–25. This reflects 64% growth in revenue and 148% growth in PAT compared to the previous year. The company reported an EBITDA margin of 9.22%, a Return on Equity (RoE) of 34.94%, and a Return on Capital Employed (RoCE) of 23.15%.
| Financial Year | Revenue (₹ Cr) | PAT (₹ Cr) | EBITDA Margin | RoE | RoCE |
|---|---|---|---|---|---|
| FY 2024–25 | 267.17 | 12.94 | 9.22% | 34.94% | 23.15% |
| FY 2023–24 | 162.83 | 5.22 | — | — | — |
The company is promoted by Krishnamurthy Ganesan, Lalitha Krishnamurthy, and Prashant Krishnamurthy.
According to the Managing Director of Mahamaya Lifesciences Limited, the IPO will support the company’s plan to increase production capacity and improve supply to agricultural markets in India and abroad.
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