Mayasheel Ventures
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 20 Jun 2025 – 24 Jun 2025
- Listing date
- 27 Jun 2025
- Face value
- ₹10 per share
- Issue price
- ₹47 per share
- Lot size
- 3,000 shares
- Issue type
- Book Building issue
- Listing at
- NSE
- Total issue size
- ₹27.28 Cr
- Market cap at offer price
- ₹104 Cr
- Promoter holding
- 91.97% → 67.76% pre-issue → post-issue
- ISIN
- INE0ZTO01018
- Registrar
- Maashitla Securities Pvt.Ltd.
- Lead managers
- Narnolia Financial Services Ltd.
- Registered office
- IIIrd B-2, Flat No.8, IInd, Nehru Nagar, Uttar Pradesh
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 16,50,000 | — | — |
| Market maker | 2,91,000 | — | — |
Application size
Minimum 3,000 shares per lot, in multiples, at ₹47
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 3,000 | ₹1,41,000 |
| S-HNI (min) | 2 | 6,000 | ₹2,82,000 |
| S-HNI (max) | 7 | 21,000 | ₹9,87,000 |
| B-HNI (min) | 8 | 24,000 | ₹11,28,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 6.98 | 5.14 |
| P/E (×) | 6.73 | 9.14 |
| Price to book (×) | 2.65 | — |
| Market cap | — | ₹104 Cr |
Key performance indicators
- Return on net worth
- 42.83%
- ROCE
- 28.62%
- Debt / equity
- 1.60
- PAT margin
- 6.63%
- EBITDA margin
- 15.01%
- NAV per share
- ₹17.73
- Price to book
- 2.65
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Mayasheel Ventures
Mayasheel Ventures Limited, originally incorporated as a Partnership Firm 'Mayasheel Construction' in May 2008, was converted into a Public Limited Company in May 2024 with CIN U42101UP2024PLC203681. The company is a Class A government contractor from Uttar Pradesh Public Works Department, qualified to undertake large-scale, technically complex infrastructure projects. Operating on a Business-to-Government model, the company specializes in road construction, highway widening, bridge construction, and road drainage systems for government entities like NHIDCL, Ministry of Roads, PWD departments of various states, and other government authorities. With collective promoter experience exceeding 35 years in construction and civil engineering, the company has successfully completed more than 75 projects aggregating Rs. 82,979.82 Lakhs and maintains an order book of Rs. 20,160.19 Lakhs as of March 31, 2025. The company also undertakes electrical works including construction of electrical power houses, transmission lines, streetlights, and energy meters, though these have not generated significant revenue in recent years. ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certified, the company employs 294 permanent employees and operates primarily in northeastern states (Assam, Manipur, Nagaland) while expanding into other regions.
Company Analysis
from RHPMayasheel Ventures Limited constructs roads, highways, bridges, and electrical infrastructure through Engineering, Procurement, and Construction (EPC) mode for government departments in India, primarily focusing on National Highway Authority of India (NHIDCL) and state Public Works Departments.
Mayasheel Ventures Limited, originally incorporated as a Partnership Firm 'Mayasheel Construction' in May 2008, was converted into a Public Limited Company in May 2024 with CIN U42101UP2024PLC203681. The company is a Class A government contractor from Uttar Pradesh Public Works Department, qualified to undertake large-scale, technically complex infrastructure projects. Operating on a Business-to-Government model, the company specializes in road construction, highway widening, bridge construction, and road drainage systems for government entities like NHIDCL, Ministry of Roads, PWD departments of various states, and other government authorities. With collective promoter experience exceeding 35 years in construction and civil engineering, the company has successfully completed more than 75 projects aggregating Rs. 82,979.82 Lakhs and maintains an order book of Rs. 20,160.19 Lakhs as of March 31, 2025. The company also undertakes electrical works including construction of electrical power houses, transmission lines, streetlights, and energy meters, though these have not generated significant revenue in recent years. ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certified, the company employs 294 permanent employees and operates primarily in northeastern states (Assam, Manipur, Nagaland) while expanding into other regions.
Objects of the Issue
- Funding capital expenditure requirements for the purchase of equipment/machineries Rs. 400.00 Lakhs p.88
- Funding the Working Capital requirement Rs. 1,400.00 Lakhs p.88
- General Corporate Purposes p.88
Issue Structure
- Total Issue
- 58,05,000 Equity Shares of Rs.10/- face value aggregating to Rs. [●] Lakhs
- Fresh Issue
- 58,05,000 Equity Shares of face value Rs.10/- each fully paid-up for cash at price of Rs. [●]/- per Equity Share
- Offer for Sale
- NIL
- Price Band
- Floor Price Rs. 44/- per Equity Share; Cap Price Rs. 47/- per Equity Share
- Lot Size
- 3000 Equity Shares and in multiples of 3000 Equity Shares thereafter
- Face Value
- Rs. 10/- per Equity Share
Business Model
The company generates revenue through two primary models: (1) Engineering, Procurement, and Construction (EPC) projects where it manages complete design, procurement, and construction phases; and (2) Bill of Quantity (BOQ)-based projects where it executes specified tasks based on detailed project specifications. Revenue generation is 95.63% from direct government contracts and 4.37% from sub-contracting. The company operates on a Business-to-Government (B2G) model, securing projects primarily through competitive government tenders.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mr. Amit Garg | Promoter | 55.40% | 40.82% |
| Ms. Meenu Garg | Promoter | 26.78% | 19.73% |
| Mr. Prabhat Rajpoot | Promoter | 9.23% | 6.80% |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.