Mayank Cattle Food IPO

Mayank Cattle Food IPO

Mayank Cattle Food’s IPO consists of a fresh issue of 18,00,000 equity shares of the company at INR 108 per share, totaling INR 1,944 lakhs. The company intends to use the funds raised to allocate funds for equipment, operations, issuance costs, and corporate needs.

Mayank Cattle Food IPO – Important Details

Mayank Cattle Food  IPO DateJanuary 29, 2024 to January 31, 2024
Mayank Cattle Food  IPO Listing DateFebruary 5, 2024
Mayank Cattle Food  IPO PriceINR 108 per share
Mayank Cattle Food  IPO Lot Size1200 Shares
Mayank Cattle Food  IPO Total Issue SizeINR 1,944 lakhs
Mayank Cattle Food  IPO Basis of AllotmentFebruary 1, 2024
Mayank Cattle Food  IPO Initiation of RefundsFebruary 2, 2024
Mayank Cattle Food  IPO Credit of Shares to DematFebruary 2, 2024
Mayank Cattle Food  IPO Issue TypeFixed Price Issue
Mayank Cattle Food  IPO Listing AtBSE SME

Mayank Cattle Food IPO – Company Profile

Established in 1998, Mayank Cattle Food Limited specializes in producing maize Oil (Non-edible) and maize cake (Cattle Feed). The business process includes purchasing maize germ, mechanized expelling, and packaging for the sale of both products.

Mayank Cattle Food Limited’s advanced 87,133 sq. ft. Manufacturing facility on Rajkot Jamnagar Highway, Gujarat, is strategically located for easy access to raw materials and transportation. It boasts modern technology and enjoys comprehensive infrastructure, including electricity, water, and communication.

Mayank Cattle Food Limited caters to Gujarat, Delhi, and Maharashtra through agents, brokers, and direct channels. In 2020, a 150 kva solar power system supported captive electricity consumption. The company prioritizes quality, utilizing modern machinery and a skilled workforce for continuous improvement.

Mayank Cattle Food Limited IPO – Fundamental Analysis

Mayank Cattle Food’s financial analysis indicates positive trends. Revenue consistently grew, expenses increased, and profit improved significantly. RoNW showed substantial growth, EPS surged, and NAV per share rose. Total assets increased, while liabilities decreased, reflecting improved financial health.


Revenue

Revenue represents the total income generated by the company. It has shown consistent growth over the three years, increasing from ₹1,211.78 lakhs in 2021 to ₹1,751.79 lakhs in 2023. This indicates that the company is expanding its business and generating more sales.

Expenses

As of March 31, 2021, the company’s expenses were ₹1,205.44 lakhs. This increased to ₹1,566.08 lakhs by March 31, 2022, and rose to ₹1,625.25 lakhs by March 31, 2023. This demonstrates a consistent upward trend in expenses over the three years.

Profit and Loss After Tax

This metric represents the company’s net profit after deducting taxes. The company has shown a significant improvement in profitability. The profit after tax has increased from ₹1.57 lakhs in 2021 to ₹103.38 lakhs in 2023. This indicates that the company is becoming more profitable over time.

Return on Net Worth (RoNW)

 RoNW is a measure of profitability about shareholders’ equity. It has grown substantially, increasing from 3.15% in 2021 to 59.79% in 2023. This suggests that the company is efficiently using its equity to generate profits.

Earnings Per Share (EPS)

EPS reflects the company’s profitability on a per-share basis. The EPS has also significantly increased from ₹0.16 in 2021 to ₹10.34 in 2023, indicating solid earnings growth.

Net Asset Value (NAV) per Equity Share

The Net Asset Value (NAV) per equity share for Mayank Cattle Food for the respective years is as follows: As of March 31, 2021, it was ₹4.98 per share, which increased to ₹6.95 per share as of March 31, 2022, and significantly rose to ₹17.29 per share as of March 31, 2023.

Total Assets and Liabilities

The company’s total assets have shown consistent growth over the specified years, increasing from ₹898.33 lakhs as of March 31, 2021, to ₹1,449.34 lakhs as of March 31, 2023. In contrast, total liabilities have decreased from ₹1,276.43 lakhs in 2021 to ₹848.59 lakhs in 2023, indicating improved financial health.

Mayank Cattle Food IPO Financial Information

articularAs of 31 March 2021As of 31 March 2022As of 31 March 2023
Revenue (₹ in lakhs)1,211.781,587.951,751.79
Equity (₹ in lakhs)49.7569.53172.91
Expenses (₹ in Million)1,205.441,566.081,625.25
Profit and Loss After Tax (₹ in lakhs)1.5719.77103.38
RoNW (%)3.15%28.44%59.79%
Diluted EPS only (₹)0.161.9810.34
NAV per Equity Share (₹)4.986.9517.29
Total Assets (in lakhs)898.33975.151,449.34
Total Liabilities (in lakhs)1,276.43905.63848.59

Mayank Cattle Food Ltd IPO Peer Comparison

Mayank Cattle Food believes that none of the listed companies in India offer products or services across their various business segments. Hence, a strict comparison is not possible.

Mayank Cattle Food Limited IPO Objective

The main objective of Mayank Cattle Food IPO is to utilize INR 184.33 lakhs to purchase plants and machinery and expand their Rajkot facility. Additionally, funds will address working capital needs and general corporate goals and cover various issue-related expenses for strategic growth and compliance.

  1. Purchase of Additional Plant & Machinery: The company intends to utilize INR 184.33 lakhs from the Net Proceeds to purchase plant and machinery at their manufacturing facility. The company aims to expand manufacturing capacity at its current site, Rajkot, Gujarat, by installing new plants and machinery to enhance production capabilities.
  1. Working Capital Requirement: The company plans to utilize funds to meet the working capital requirement as the company’s business is working capital intensive. 
  1. General Corporate Purpose: The company plans to deploy the balance funds towards the general corporate goals, including utilizing funds for strategic initiatives, partnerships, brand building, contingencies, and other Board-approved purposes, aligning with regulatory provisions and business goals.
  1. Issue Related Expense: Proceeds from the Issue will cover expenses such as issue management fees, underwriting fees, commissions, registrar fees, legal advisor fees, printing, distribution, advertisement, depository charges, listing fees, and statutory expenses.

Mayank Cattle Food IPO Risks And Challenges

Mayank Cattle Food’s IPO risk includes confronting legal uncertainties, supplier dependency risks, and potential negative cash flows. Outcomes are uncertain, and the company acknowledges vulnerabilities in its supplier network and future cash flow projections.

  • The company, promoters, and group entities are involved in pending legal proceedings, and there is no assurance of a favorable outcome. While the amounts are not substantial, potential adverse results are acknowledged, with no guarantee against future litigation.
  • The company heavily relies on a limited number of suppliers, with the top ten accounting for a significant percentage of purchases. Without long-term contracts, dependence on quotes and potential supply disruptions pose risks to operations, financials, and profitability.
  • The company cannot guarantee positive future net cash flows. Prolonged negative cash flows or significant short-term negatives may impede business operations and growth plans, potentially adversely affecting cash flows, business, and financial performance.

Mayank Cattle Food Ltd IPO – Industry & Market Potential

The global animal feed market, valued at US$501.9 billion in 2022, is projected to grow at a CAGR of 3.3%: India, the fourth-largest producer with an $11.66 billion market. TPCI’s research identifies growth opportunities for Indian exporters in this vital industry, highlighting the positive aspects and potential for expansion.

India’s thriving cattle and poultry feed markets, with 15% and 8-9% growth, showcase immense future potential. The poultry industry drives feed consumption, and as the world’s largest milk producer, demand for cattle feed is high. The aquaculture feed market needs help in raw material procurement.

India eyes global animal feed market growth through strategic exports to UAE, China, Russia, and Brazil. Essential initiatives include government support, research investments, and synchronized regulations for efficient production and market optimization.

Mayank Cattle Food Ltd IPO – Type of Offer

Mayank Cattle Food’s IPO will include the issue of  18,00,000 new shares at INR 108 per share to raise capital. This fund will allocate funds for equipment, operations, issuance costs, and corporate needs.

Mayank Cattle Food Ltd IPO Offer Size

The offer size of Mayank Cattle’s IPO includes the issue of  18,00,000 new shares at INR 108, aggregating to INR 19.44 crores.

Mayank Cattle Food Limited IPO Allotment Structure

Mayank Cattle Food Limited’s IPO allotment structure includes a category for Retail Individual Investors (RII) with investments below ₹2 lakhs, a category for other investors exceeding ₹2 lakhs, and a reservation of 90,000 shares for Market Makers.

  •  Retail Individual Investors (RII): These individual investors apply for shares with a total value of less than Rs.2 lakhs.
  •  Other than retail individual investors: Such applications where the value exceeds INR 2 lakhs.
  • Market Maker Reservation: A certain percentage or number of shares is reserved for market makers. The company has set aside 90,000 shares for this purpose.

How to apply for a Mayank Cattle Food IPO through Alice Blue?

To apply for the Mayank Cattle Food IPO through Alice Blue, you would typically follow these steps:

  1. Open a Demat and Trading Account: If you don’t have one already, you would need to open a Demat and trading account with Alice Blue.
  2. Check for IPO Details: Once your account is active, you can check for the Mayank Cattle Food IPO details in the IPO section of the Alice Blue platform.
  3. Place the Bid: Enter the number of shares you wish to buy and place your bid within the IPO’s price band.
  4. Submit the Application: Confirm all your details and submit your application.

You can apply for Mayank Cattle Food IPO at Alice Blue in just a few clicks!

Check Allotment Status: After the allotment process, you can check the allotment status to see if you have received any shares.

Please note that the allotment of shares is not guaranteed and will depend on the demand for the IPO.

How to Check Mayank Cattle Food IPO Allotment Status on Alice Blue?

Checking the allotment status of an IPO in Alice Blue is usually straightforward. Please follow these general steps:

  1.  Log in to your Alice Blue Account: You can do this through the Alice Blue website or their trading app.
  2. Navigate to the Portfolio or IPO Section: This might differ based on the layout of Alice Blue’s platform, but generally, you can find the status of your IPO application under the ‘Portfolio’ or ‘IPO’ section.
  3. Find the IPO Allotment Status: Look for a sub-section called ‘IPO Allotment Status’ or something similar. This is where you can see the status of the IPOs you have applied for.
  1. Select the Mayank Cattle Food IPO: If you have applied for multiple IPOs, there might be a dropdown menu or a list where you can select the IPO you are interested in. Select the Mayank Cattle Food IPO.
  1. Check the Status: The status of your application should be displayed here. If the shares have been allocated to you, it would be mentioned here.

 If you face any issues, it is recommended that you contact Alice Blue’s customer support for detailed assistance.

Apart from Alice Blue, there are other ways to check the allotment status of the Mayank Cattle Food IPO:

●   Registrar’s Website: Visit the website of Cameo Corporate Services Limited, the registrar of the Mayank Cattle Food IPO. On the homepage, look for the ‘IPO Allotment Status’ option. You must enter your PAN and application number or Demat account number to check your allotment status. Click on the ‘Submit’ button to view your IPO allotment status.

●    BSE SME: You can also check the allotment status on the official websites of the Bombay Stock Exchange (BSE) SME (Small Medium Enterprise) Platform. You would need your application number and PAN to check the status.

Please note that the allotment status will only be available after the allotment process has been completed, a few days after the IPO window closes.

Mayank Cattle Food Limited IPO Offer Registrar

 The registrar for the Mayank Cattle Food Limited IPO is Cameo Corporate Services Limited. They are responsible for ensuring the IPO allotment and refund processes are carried out smoothly.

 Contact information for the registrar:

 Cameo Corporate Services Limited

Subramanian Building, No. 1,

Club House Road,

Chennai – 600 002, India

Telephone: +91-44-40020700 (5 lines)

Email: [email protected]

Website: www.cameoindia.com

Mayank Cattle Food IPO FAQs

What is the allotment date of the Mayank Cattle Food IPO? 

The allotment date of the Mayank Cattle Food IPO is February 1, 2024.

What is the price band of Mayank Cattle Food IPO? 

The price band of Mayank Cattle Food IPO is INR 108 per share.

What is the size of the Mayank Cattle Food IPO? 

Mayank Cattle Food IPO Issue includes a fresh Issue of 18,00,000 Equity Shares of the Company at INR 108 per share, totaling INR 1,944 lakhs. The company intends to use the funds raised to allocate funds for equipment, operations, issuance costs, and corporate needs.

What is the listing date of the Mayank Cattle Food IPO? 

The listing date of the Mayank Cattle Food IPO is February 5, 2024.

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