Mahamaya Lifesciences Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹114
Per ShareLot Size
1200 Shares
Minimum Investment
₹1,36,800
Issue Size
₹70.44 Cr
Face Value
₹10
Per ShareIPO Type
Book Building - SME
Retail Quota
35.08%
QIB Quota
49.89%
NII Quota
15.03%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Mahamaya Lifesciences Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
77.27%
Promoter Holding (Post-Issue)
56.35%
Issue Type
Book Building - SME
ISIN
INE0U9D01019
About the Company
Our company specializes in the manufacturing of pesticide formulations and supply bulk formulations catering to both Indian agrochemical companies, as well as multinational corporations (MNCs). We began our journey by focusing on import and registration of vital pesticide molecules (Technical) that were not produced domestically in India. We imported these molecules after lot of product research and worked on registering them with the Central Insecticides Board and Registration Committee (CIBRC) under the Department of Agriculture, Government of India. After successful registration we marketed these molecules both as technical and as value added end use formulations for both domestic manufacturers and MNCs.
Industry Overview
India is among the top five global producers of agrochemicals, playing a vital role in crop protection. The industry has expanded rapidly, growing at a CAGR of 13.3% from USD 814 million in 2019 to USD 1,342 million in 2023, and is projected to grow at 7.6% CAGR from 2023 to 2029. Pesticide production grew at a CAGR of 4.5%, reaching 258 thousand tonnes in 2022-23. India is a net exporter of pesticides, with exports increasing at a CAGR of 8.1% from 2018-19 to 2022-23, surpassing domestic consumption. The total export value reached Rs.43,223 crore (US$ 5.50 billion) in 2022-23. Despite strong exports, India imports pesticides, primarily from China, which accounted for 51.97% of total imports in 2022-23. The agrochemical sector includes insecticides, herbicides, fungicides, and biopesticides, with herbicides dominating global crop protection. Due to advanced formulations, India's chemical pesticide consumption declined at a CAGR of 3.2% from 2018-19 to 2022-23. Industry growth is driven by rising agricultural output, population growth, government initiatives, and increased awareness of biopesticides. Government support includes organic farming promotion and financial aid for farmers. With increasing global demand and the "Make in India" push, the industry is set for continued expansion. Strengthening domestic production and reducing import dependence remain key priorities for India's agrochemical sector.
Company History
Our Company was originally incorporated as a private limited Company under the name of "Mahamaya Life Sciences Private Limited" under the provisions of the Companies Act, 1956 and certificate of incorporation was issued by the Assistant Registrar of Companies, NCT of Delhi & Haryana, on May 07, 2002. Further, our Company name was changed from "Mahamaya Life Sciences Private Limited" to "Mahamaya Lifesciences Private Limited" and a fresh certificate of Incorporation dated February 15, 2016 was issued by the Registrar of Companies, Delhi. Moreover, a special resolution was passed at the Extra-Ordinary General Meeting of our Company held on October 29, 2024 for conversion of our Company into a public limited Company and the name of our Company was changed from "Mahamaya Lifesciences Private Limited" to "Mahamaya Lifesciences Limited". A fresh certificate of incorporation consequent to change of name was issued by the Registrar of Companies, Delhi on November 19, 2024. The Corporate Identity Number of our Company is U24233DL2002PLC115261.
Products & Services
- The company specializes in the manufacturing of pesticide formulations and supply bulk formulations catering to both Indian agrochemical companies, as well as multinational corporations (MNCs).
Growth Strategy
- Enhancing manufacturing capabilities and expand our product portfolio with advanced safer, ecofriendly chemical and biological crop care solutions.
- Research and Development.
- Expanding Bio-Product & Herbicide segment.
- Maintaining relationships with customers.
- Strengthening up our business through effective branding and promotional activities.
Customer Base
Wholesaler and Retailer
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY23 to FY25.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offer of up to 61,78,800 equity shares of face value of Rs. 10/- each ("equity shares") of Mahamaya Lifesciences Limited ("MLL" or the "company") for cash at price of Rs. 114/- per equity share (including a share premium of 104/- per equity share) (the "offer price"), aggregating up to Rs. 70.44 crores ("the offer"), comprising a fresh offer of upto 56,38,800 equity shares aggregating to Rs. 64.28 crores (the "fresh offer") and an offer for sale of upto 5,40,000 equity shares (the "offered shares") of face value of Rs. 10/- each aggregating up to Rs. 6.16 crores ("offer for sale") comprising of 3,70,000 equity shares aggregating up to Rs. 4.22 crores by Krishnamurthy Ganesan and 1,70,000 equity shares aggregating up to Rs. 1.94 crores by Lalitha Krishnamurthy (collectively referred to as the "selling shareholders") out of which 3,09,600 equity shares of face value of Rs. 10/- each, at an offer price of Rs. 114/- per equity share for cash, aggregating up to Rs. 3.53 crores will be reserved for subscription by the market maker to the offer ( the "market maker reservation portion"). The offer less market maker reservation portion i.e. net offer of 58,69,200 equity shares of face value of Rs. 10/- each, at an offer price of Rs. 114/- per equity share for cash, aggregating up to Rs. 66.91 crores is hereinafter referred to as the "net offer". The offer and net offer will constitute 26.40% and 25.08% respectively of the post-offer paid-up equity share capital of the company. The price band and the minimum bid lot will be decided by the company.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Experienced management team consisting of experts.
- Capability to introduce vital products for Indian Agriculture.
- Development of export opportunities of products.
- Ability to develop brands.
- Cordial relationships with suppliers of raw materials.
- Its top ten customers constituted 71.35%, 76.26%, 83.14% and 71.12% of our sales for the period ended June 30, 2025 and for the financial year ended March 31, 2025, March 31, 2024, March 31, 2023 respectively. Absence of large number of customers, dependence on few customers and creating a customer concentration risk which may have an adverse impact on its business operations and financial performance.
- The Company has not entered into long-term agreements with its customers for purchasing the company products nor for the supply of raw materials with its suppliers. The company is subject to uncertainties in demand/supply and there is no assurance that these customers and suppliers will continue to purchase its products or sell raw materials to it or that they will not scale down their orders. This could impact the business and financial performance of the Company.
- Raw materials constitute a significant percentage of the Company's total expenses. Any increase in prices and any decrease in the supply would materially adversely affect the Company's business.
- The company is required to obtain and/or renew certain registrations from the CIB&RC for its products manufactured in India. The company also register its products in overseas jurisdictions through the company International Distribution Partners to enable exports to such countries. Any failures to successfully register its products in India or in the international markets may affect its results of operations and financial condition.
- The company has complied with the timely filing requirement for statutory dues but have faced delays in payment due to technical issue.