Mahamaya Lifesciences IPO Opens: Low Subscription, No Grey Market Premium on Day 1
Mahamaya Lifesciences IPO opened on November 11 to raise ₹70.44 crore. The issue saw only 2% subscription by mid-morning, with a nil grey market premium, indicating low investor enthusiasm on Day 1.
Mahamaya Lifesciences IPO opens for subscription at a price band of ₹108–₹114; early response muted with nil grey market premium.
The Mahamaya Lifesciences IPO opened for public subscription on Tuesday, November 11, seeking to raise ₹70.44 crore by way of fresh issues and offers of sale. Early investor sentiment seems rather lacklustre as GMP so far has registered nil activity.
Mahamaya Lifesciences IPO Subscription Status
By 11:10 AM, the SME IPO had been subscribed to 2% insiders with the retail segment being oversubscribed at 3%. No bids had been received under stock exclusively reserved for non-institutional investors and qualified institutional buyers - thereby reflecting a lack of enthusiasm.
Key Details of Mahamaya Lifesciences IPO
IPO GMP:
According to grey market sources, the Mahamaya Lifesciences IPO GMP is ₹0, suggesting that the stock is likely to list at par with its issue price.
IPO Dates:
The IPO opened on November 11 and will close on Thursday, November 13, 2025.
Price Band:
The company has fixed the price band at ₹108–₹114 per equity share.
IPO Size and Fund Utilisation:
Out of the total ₹70.44 crore, around ₹64.3 crore will be raised through the fresh issue. Proceeds will be used for:
Purchasing new equipment for the existing formulation plant
Setting up a new technical manufacturing plant
Constructing a warehouse and purchasing additional machinery
Funding working capital and general corporate purposes
Lot Size:
Retail investors can apply for a minimum and maximum of 2,400 shares, requiring an investment of ₹2,73,600.
Reservation Structure:
QIBs: 47.39% (29,28,000 shares)
Retail investors: 33.33% (20,59,200 shares)
NIIs: 14.27% (8,82,000 shares)
Allotment and Listing Dates:
Allotment finalisation: November 14, 2025
Share credit/refunds: November 17, 2025
Listing on BSE SME: November 18, 2025
Lead Manager & Registrar:
Book-running lead manager: Oneview Corporate Advisors Pvt. Ltd.
Registrar: KFin Technologies Ltd.
Company Overview
Mahamaya Lifesciences manufactures pesticide formulations and supplies bulk agrochemical products to domestic companies and MNCs.
Profit Growth:
FY23: ₹3.75 crore
FY24: ₹5.22 crore
FY25: ₹12.94 crore
Q1 FY26: ₹4.10 crore
Revenue Growth:
FY23: ₹137.1 crore
FY24: ₹161.6 crore
FY25: ₹264.2 crore
Q1 FY26: ₹83 crore
Despite strong financial performance, early subscription numbers suggest investor caution amid weak market sentiment.
