Strong Debut! Mayasheel Ventures shares list at ₹58 on NSE SME, a premium of 23.40% from IPO price
The SME IPO, valued at ₹ 27.28 crore, was open for subscription from June 20 to June 24.
Mayasheel Ventures' IPO ended on a overwhelming note, with the issue subscribed 232.72 times over the three-day bidding window. Investors placed bids for 89.92 crore as against 38.64 lakh shares on offer. The retail investor segment saw 102.63 times subscription, while the non-institutional investor (NII) category witnessed 715.75 times subscription. The portion reserved for qualified institutional buyers (QIBs) was also subscribed 98.14 times.
The IPO comprises a fresh issue of 2.25 crore equity shares with no offer for sale (OFS) component. The minimum application size was 3000 shares, implying a minimum investment of ₹ 1.41 lakh from retail investors.
The company plans to deploy the proceeds from the issue towards capital expenditure for acquiring equipment and machinery, meeting its working capital needs, and addressing general corporate requirements.
The issue also raised ₹ 7.76 crore from anchor investors on June 19, 2025.
Narnolia Financial Services was the book-running lead manager for the IPO, while Maashitla Securities Private served as the registrar for the issue. Meanwhile, the market maker for the Mayasheel Ventures IPO was Prabhat Financial Services.
Mayasheel Ventures Limited, incorporated in May 2008, is primarily involved in the construction of roads and highways for clients such as the National Highways and Infrastructure Development Corporation (NHIDCL) and various other government departments. The company specializes in executing complex infrastructure projects including expressways, flyovers, highways, and bridges.
It operates on both EPC (Engineering, Procurement, and Construction) and BOQ (Bill of Quantity) models, allowing it to manage diverse project requirements efficiently. In addition to civil construction, Mayasheel Ventures has also carried out electrical works such as building power houses, installing street lighting, and laying transmission lines. Its business is predominantly tender-driven, with the majority of its revenue generated from government contracts.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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