Mayasheel Ventures Limited, a well-established engineering construction and development company, is all set to launch its IPO on June 20, 2025, to raise ₹27.28 crores through a Book Built Issue. The IPO will consist entirely of a Fresh Issue of 58.05 lakh equity shares and will remain open for subscription till June 24, 2025. The proposed listing is scheduled for June 27, 2025, on the NSE SME platform.

The price band has been set at ₹44 to ₹47 per share, and the lot size is 3,000 shares. For retail investors, the minimum application amount is ₹1,41,000, while HNIs are required to invest in a minimum of 2 lots (₹2,82,000). At the upper end of the band, the company's market capitalisation will stand at ₹103.63 crores.

This IPO falls under the category of recent June 2025 IPO India opportunities, particularly appealing to investors tracking NSE SME IPO news, Mayasheel Ventures IPO GMP, and IPO retail investor participation. Managed by Narnolia Financial Services Limited and with Maashitla Securities Private Limited as the registrar, this IPO aligns with the growing interest in civil engineering IPO India and EPC contractor IPO themes.

About the Company

Mayasheel Ventures Limited has carved a niche in the Indian infrastructure space with a focus on road construction, electrical works, and civil construction. They operate as both EPC contractors and item-rate contractors, enabling them to manage a variety of infrastructure development projects efficiently. As a registered "A" class government contractor, the company has delivered multiple high-quality government and sub-contracting projects.

Financial Overview

The company has exhibited a steady financial performance across multiple years:

• Revenue for FY25: ₹17,204.92 lakh

• Revenue for FY24: ₹13,114.44 lakh

• Revenue for FY23: ₹12,709.96 lakh

• Revenue for FY22: ₹11,661.21 lakh

The EBITDA margin has also improved:

• EBITDA FY25: ₹2,528.61 lakh

• EBITDA FY24: ₹1,731.11 lakh

• EBITDA FY23: ₹1,543.14 lakh

• EBITDA FY22: ₹1,471.58 lakh

Profit After Tax (PAT) has shown upward movement:

• PAT FY25: ₹1,133.47 lakh

• PAT FY24: ₹651.35 lakh

• PAT FY23: ₹475.21 lakh

• PAT FY22: ₹488.56 lakh

These consistent numbers place Mayasheel Ventures among financially stable construction company IPO candidates, attracting interest from both IPO HNI and retail segments.

Valuation Metrics

• Pre-Issue EPS (FY24): ₹7.23

• Post-Issue EPS (FY24): ₹5.14

• Pre-Issue P/E: 6.50x

• Post-Issue P/E: 9.14x

• Industry P/E: 112x

• ROCE (FY24): 28.62%

• ROE (FY24): 42.83%

• RoNW (FY24): 42.83%

These metrics indicate that the IPO is fairly priced, but industry experts remain cautious.

GMP and Listing Outlook

As of June 11, 2025, the Mayasheel Ventures IPO GMP is at ₹3, suggesting a potential listing price of ₹50 and a 6.38% expected gain over the issue price of ₹47. However, the GMP is unofficial and should be used only for educational and informational purposes, as it reflects speculation rather than confirmed demand.

Anchor Investor Participation

The company has raised ₹7.75 crores from Anchor Investors, allocating 16.5 lakh shares at the upper price band. This may reflect initial confidence, though it doesn’t ensure robust subscription across other categories.

IPO Allotment & Subscription

• IPO Allotment Date: June 25, 2025

• IPO Listing Date: June 27, 2025

• Registrar: Maashitla Securities Private Limited

Investors can check Mayasheel Ventures IPO allotment status on the registrar’s website using their PAN, application number, or DP ID.

Use of Proceeds

The net proceeds from the issue will be used as follows:

1. ₹400 lakh – For capital expenditure on new equipment and machinery.

2. ₹1,400 lakh – For working capital requirements.

3. Remaining funds – For general corporate purposes.

These objectives support the company’s ongoing growth and project execution plans, a common goal for civil engineering IPO India offerings.

Promoter & Management

Led by Mr. Amit Garg, who has 15 years of experience in the road construction industry, Mayasheel Ventures credits its growth to a skilled senior management team and effective leadership. However, the business is highly promoter-dependent, a concern often raised in SME IPO reviews.

Analyst Verdict

Despite its solid financials, the Mayasheel Ventures IPO review from market analysts leans towards Avoid, due to:

• Low GMP and muted grey market sentiment.

• Limited scalability of operations as an SME.

• High promoter dependency.

• SME platform constraints.

For retail and HNI investors, this IPO might not offer substantial listing gains or long-term wealth creation.

Conclusion

The Mayasheel Ventures IPO, opening on June 20, 2025, falls within the cluster of June 2025 IPO India listings. While the company has delivered consistent growth and displays healthy ROE and ROCE, the modest GMP, industry saturation, and promoter reliance urge caution.

The IPO may suit investors who are tracking Mayasheel Ventures IPO latest news, NSE SME IPO news, or looking to diversify into infrastructure-based SME stocks. However, those seeking stronger listing performance or high-growth potential might consider alternative opportunities in upcoming IPOs.

In conclusion, the IPO may be best avoided for both listing gains and long-term holding, despite its attractive pricing and moderate grey market sentiment.

Disclaimer:
This article is for educational and informational purposes only and does not constitute financial advice. Investment decisions should be based on individual risk tolerance and consultation with SEBI-registered advisors. Market conditions are volatile and subject to change. Neither the author nor the platform is responsible for losses arising from use of this information.

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