Mayasheel Ventures
Price
₹44–₹47
Lot Size
3,000 shares
About the IPO
Mayasheel Ventures Limited, a Ghaziabad-based infrastructure construction company, is set to launch its IPO on the NSE Emerge platform from June 20 to June 24, 2025.
Founded in 2008, the company operates as a “Class A” government contractor, specializing in roads, highways, bridges, and electrical infrastructure. With a solid reputation in EPC and BOQ projects, it primarily serves B2G clients like NHIDCL and state PWDs.
IPO Snapshot:
Issue Size: ₹27.28 Cr (100% Fresh Issue)
Price Band: ₹44–₹47 per share
Lot Size: 3,000 shares | Min investment: ₹1.32–₹1.41 lakh
GMP (as of June 18): ₹5–₹6 per share➤ Implies expected listing gains of 10.6%–12.8%
Allotment Date: June 25 | Tentative Listing: June 27, 2025
Financial Performance:
FY24 Revenue: ₹131.14 Cr | PAT: ₹6.51 Cr
FY25 Revenue: ₹172.05 Cr | PAT: ₹11.33 Cr➤ 31% revenue growth | 74% PAT growth
Order Book (Mar 2025): ₹201.60 Cr
P/E Ratio: 9.14–9.77x (FY25 basis), relatively attractive among peers
IPO Objectives:
₹4 Cr for new construction equipment
₹14 Cr for working capital
Balance for strategic and general corporate needs
Why It’s Interesting:
Backed by strong government spending on infrastructure
"Class A" license enables bidding on high-value projects
Positive GMP indicates short-term interest
Robust order book supports near-term revenue visibility
Led by experienced promoters with proven execution record
Risks to Consider:
Heavy dependence on government contracts
Geographic concentration in UP and nearby states
No recent revenue from electrical segment
Typical SME IPO risks: oversubscription, limited liquidity
Long-term sustainability of sharp PAT growth remains to be seen
Bottom Line:Mayasheel Ventures offers exposure to India’s infrastructure growth story at a reasonable valuation. The order book and financial momentum are solid, and listing gains seem likely. Retail investors with a moderate risk appetite can consider applying for short-term gains, while long-term investors should focus on the company’s ability to diversify and maintain growth.
For more details, visit the Red Herring Prospectus.
Disclaimer: This post is for informational purposes only and does not constitute investment advice. Always consult a SEBI-registered financial advisor before investing in any IPO.