M R Maniveni Foods IPO

About M R Maniveni Foods IPO

The M R Maniveni Foods IPO opens on Friday, May 22, 2026 and closes on Tuesday, May 26, 2026. The allotment of shares will take place on Wednesday, May 27, 2026. The credit of shares to the demat account will take place on Friday, May 29, 2026. The initiation of refunds will take place on Friday, May 29, 2026. The listing of shares will take place on Monday, June 1, 2026.

The offer consists of a fresh issue component. The fresh issue will include 0.52 crore shares of ₹27.04 crores. The total number of shares and aggregate amount are 52,00,000 shares aggregating up to ₹27 crores.

M R Maniveni Foods IPO’s price band is set at ₹51 to ₹52 per share. The lot size for an application is 2,000 shares. The minimum amount of investment required by a retail investor is ₹2,08,000 (4,000 shares) (based on upper price). The minimum lot size investment for HNI is 3 lots (6,000 shares), amounting to ₹3,12,000.

M R Maniveni Foods has an established track record of over 15 years in the food industry, specializing in the milling, processing, and supply of pulses, primarily urad dal and toor dal. Their business model is predominantly business-to-business (B2B). They supply their processed pulses to large-format retailers, wholesalers, and e-commerce platforms, who subsequently serve the end consumers.

Objectives of M R Maniveni Foods IPO

• Funding capital expenditure requirements towards construction of the factory.
  
• Funding capital expenditure requirements towards purchase of plant and machinery.
  
• General Corporate Purpose^.
  

The amount to be utilised for general corporate purposes shall maximum be 15% of the total issue size or ₹ 10 crores whichever is less.

Industry Outlook

The food processing sector is expected to reach ₹ 60,22,100 crores (US$ 70,000 crores) by 2030. The market size will further increase to ₹ 94,63,300 crores (US$ 1,10,000 crores) by 2035, ₹ 1,29,04,500 crores (US$ 1,50,000 crores) by 2040, ₹ 1,63,45,700 crores (US$ 1,90,000 crores) in 2045 and ₹ 1,84,96,450 crores (US$ 2,15,000 crores) by 2047, according to a report by PHDCCI. The Indian food processing sector offers a promising growth journey ahead and presents several opportunities with the sector being recognised as a key priority industry under the “Make in India” initiative. The MoFPI has undertaken several initiatives aimed at enhancing infrastructure and fostering food processing industries to stimulate investment in this domain. The Indian Government has sought to involve multiple stakeholders to improve interactions between farmers, processors, distributors, and retailers to establish strong supply chains linking farmers to processing and marketing to empower them with nearby grading and storage facilities which will enhance the value of their products.

About M R Maniveni Foods

M R Maniveni Foods has an established track record of over 15 years in the food industry, specializing in the milling, processing, and supply of pulses, primarily urad dal and toor dal. They commenced operations in 2010 with a focus on milling urad dal and trading a diversified range of products including urad dal, toor dal, moong dal, kabuli channa, green gram dal, coriander seeds, rice, and chillies. In 2023, they further expanded their operations by introducing the milling of toor dal through a semi-manual process, blending traditional methods with selective mechanization to retain flexibility in operations. Their business model is predominantly business-to-business (B2B). They supply their processed pulses to large-format retailers, wholesalers, and e-commerce platforms, who subsequently serve the end consumers.

Strengths of M R Maniveni Foods

• Longstanding presence in the pulses industry.
  
• Experienced promoters and professional management.
  
• Focused on milling of dal.
  
• Wide range of customers in the B2B segment.
  
• Strategically locational advantage and fully automated Urad Dal milling unit.
  

Risks of M R Maniveni Foods

• The company had received share application money in cash for certain past allotments, for which bank statements are not available.
  
• They have not entered into any long-term contracts with their suppliers for their black gram and raw pigeon pea.
  
• They do not have any long-term contracts with their customers.
  
• They are highly dependent on their existing milling facility located in Thiruvallur, Tamil Nadu.
  
• They are significantly dependent on the sale of Toor Dal and Urad Dal.
  

Source: All the financial information for listed industry peer mentioned above is on a standalone basis sourced from the Annual Reports/Information of the peer company uploaded on the NSE and BSE website for the year ended March 31, 2025. CMP is of April 30, 2026, on NSE. To be included post finalization of the Issue Price.

Notes: 1. The financial information for M R Maniveni Foods is based on the Restated Financial Information as at and for the financial year ended March 31,2025.

2. P/E Ratio has been computed based on the closing market price of equity shares on April 30, 2026, divided by the Basic EPS as on March 31, 2025.

3. RoNW is computed as net profit after tax divided by the average net worth. Net worth has been computed as the sum of share capital and reserves and surplus.

4. NAV is computed as the closing net worth divided by weighted average number of equity shares at the end of the year/period.

5. The face value of Equity Shares of M R Maniveni Foods is ₹ 10/- per Equity Share and the Issue price is [-] times the face value at the floor price and [-] times the face value at the cap price.

6. The Price band and Issue Price of will be determined by M R Maniveni Foods in consultation with the Book Running Lead Manager, and in accordance with applicable law, on the basis of assessment of market demand for the Equity Shares offered through the Book Building Process and quantitative and qualitative factors as described above.

Anchor Investor Bidding Date: Thursday, MAY 21, 2026

The company, in consultation with the BRLM, may consider participation by Anchor investors, in accordance with the SEBI (ICDR) Regulations. The Anchor Investor Bidding Date shall be one working day prior to the Bid/Issue Opening Date.

Registrar: BIGSHARE Services Private Limited
Book Running Lead Manager: CAPITALSQUARE Advisors Private Limited

M R Maniveni Foods Business Model

The company earns its revenue through specializing in the milling, processing, and supply of pulses, primarily urad dal and toor dal.

M R Maniveni Foods Growth Trajectory

M R Maniveni Foods’s Total Income for FY25 was ₹203.521 crores, whereas in FY24 and FY23 it was ₹154.997 crores and ₹119.606 crores, respectively.

The Profit After Tax for FY25 was ₹4.127 crores, whereas in FY24 and FY23 it was ₹2.180 crores and ₹1.555 crores, respectively.

Their EBITDA for FY25 was ₹7.815 crores, whereas in FY24 and FY23 it was ₹5.052 crores and ₹3.716 crores, respectively.

M R Maniveni Foods Market Position

M R Maniveni Foods’ customer base is primarily in the B2B segment and includes supermarkets, wholesalers, and e-commerce platforms. For the period that ended December 31, 2025, approximately 44.90%, 8.68% and 46.42 % of their revenue was generated from sales and the balance from other sources including wholesalers and institutional customers.

As of 31 March 2025, the company’s Total Income, Profit After Tax, and EBITDA were ₹203.521 crores, ₹4.127 crores, and ₹7.815 crores, respectively.

How to apply for M R Maniveni Foods IPO?

• Step 1: Log in to your Kotak Neo Demat account to access IPO investments. Next, select the current IPO section.
• Step 2: Specify IPO details. Enter the number of lots and the price you wish to apply for.
• Step 3: Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.
• Step 4: Mandate Notification. Your UPI app will receive a mandate notification to block funds.
• Step 5: Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.