Mahamaya Lifesciences IPO

About Mahamaya Lifesciences IPO

The IPO of Mahamaya Lifesciences consists of a fresh issue and an offer for sale. The fresh issue consists of up to 56,38,800 equity shares, while the offer for sale comprises up to 5,40,000 equity shares. The total offer size is 61,78,800 equity shares. It’s a 100% book-built offer.

Mahamaya Lifesciences IPO opens on November 11, 2025 and closes on November 13, 2025. The allotment of shares will take place on November 14, 2025. The credit of shares to the Demat account will take place on November 17, 2025. The initiation of refunds will take place on November 17, 2025. The listing of shares will take place on November 18, 2025.

Mahamaya Lifesciences specialises in the manufacturing of pesticide formulations and supply bulk formulations catering to both Indian agrochemical companies, as well as multinational corporations (MNCs).

Objectives of Mahamaya Lifesciences IPO

The company proposes to utilise the IPO proceeds for:

• Purchase of equipment for existing formulation plant
  
• Funding capital expenditure towards setting up of a new technical manufacturing plant
  
• Construction of warehouse building and purchase of machinery
  
• Funding working capital requirement of the company
  
• General corporate purposes
  

Industry Outlook

The overall Indian pesticide industry is estimated to increase at a CAGR of around 8% during the period 2023-29, on account of an upward growth expected in the international market and a likely increase in domestic usage of pesticides in India. While the demand for India's pesticides is likely to remain high, India aims to strengthen the process of backward integration for industry.

It is worth mentioning that the Indian pesticide industry remained resilient even during the pandemic year (2021-22) as exports from the Indian pesticide industry increased by a healthy 22% to 648 thousand tonnes and grew by 37.7% to ₹365 billion on a y-o-y basis.

Mahamaya Lifesciences Company Information

Mahamaya Lifesciences specialises in the manufacturing of pesticide formulations and supply bulk formulations catering to both Indian agrochemical companies, as well as multinational corporations (MNCs). It began its journey by focusing on import and registration of vital pesticide molecules (Technical) that were not produced domestically in India.

Mahamaya Lifesciences imported these molecules after a lot of product research and worked on registering them with the Central Insecticides Board and Registration Committee (CIBRC) under the Department of Agriculture, Government of India. After successful registration, it marketed these molecules both as technical and as value-added end-use formulations for both domestic manufacturers and MNCs.

Strengths of Mahamaya Lifesciences

• Experienced management team consisting of experts
  
• Capability to introduce vital products for Indian agriculture
  
• Development of export opportunities of products
  
• Ability to develop brands
  
• Cordial relationships with suppliers of raw materials
  
• Core values focused on achieving sustainability through innovative approaches
  
• Established distribution network across various geographies through many dealers
  

Risks of Mahamaya Lifesciences

• Absence of large number of customers, dependence on few customers and creating a customer concentration risk which may have an adverse impact on business operations
  
• Subject to uncertainties in demand/supply and there is no assurance that these customers and suppliers will continue to purchase products or sell raw materials
  
• Increase in prices and any decrease in the supply would materially adversely affect company’s business
  
• Failure to successfully register products in India or in the international markets may affect results of operations and financial condition
  
• Adverse decision may make the company liable to liabilities/penalties which may adversely affect reputation, business, and financial status
  
• The company not be able to avail funding from banks or financial institution for its future working capital requirements
  
• Any revision in the estimates may require to reschedule its expenditure and may have a bearing on the company’s expected revenues and earnings
  
• History of negative cash flows and sustained negative cash flow could adversely impact business, financial condition and results of operations
  

Anchor Investor Bidding Date

Anchor portion of the IPO opens on November 10, 2025.

IPO Registrar and Book Running Lead Manager

• Registrar: KFin Technologies
• Book Running Lead Manager: Oneview Corporate Advisors

Mahamaya Lifesciences Business Model

Mahamaya Lifesciences is focused on developing and expanding biological crop care products including bio stimulant formulations, plant growth regulators, bio fertilisers, as well as new age bio-fermented insecticides, fungicides and herbicides all designed to be low in toxicity and eco-friendly. The company also invests in registration of new molecules, which, once approved and registered, are distributed within India.

Mahamaya Lifesciences Growth Trajectory

The total income of Mahamaya Lifesciences grew from ₹137.3991 crores in FY 23 to ₹267.1731 crores in FY 24. Its EBITDA margin grew from 6.49% in FY 23 to 9.22% in FY 25. The company’s PAT margin increased from 2.73% in FY 23 to 4.84% in FY 25. Since its inception in 2002, the company has expanded from the sale of technical to companies, to establishing its own manufacturing facility/plant for formulations in December 2021, located at Dahej, Gujarat.

Ability to develop brands, established distribution networks across various geographies (consisting of more than 300 dealers spanning across 6 states as of Sept 30, 2024) and core values focused on achieving sustainability through innovative approaches have aided the company’s growth over the years.

Mahamaya Lifesciences Market Position

Incepted in 2002, Mahamaya Lifesciences markets its own branded products across states such as Punjab, Haryana, Rajasthan, Uttar Pradesh, Gujarat, Maharashtra, Andhra Pradesh, and Telangana through a well-established dealer network. Internationally, it exports its products to countries including the Dominican Republic, Turkey, Egypt, and the UAE.

How to Check Allotment Status of Mahamaya Lifesciences Ltd?

1. Visit the Registrar’s Website

• Visit the official website of KFin Technologies Ltd and choose ‘IPO Allotment Status’ under ‘Investors’
• Click on any of the links
• Select the IPO from ‘Select IPO’ dropdown
• Enter either Application Number, Demat Account or PAN
• Enter captcha and click on Submit to know the status

2. Check on the Bombay Stock Exchange Website

The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to www.bseindia.com and find the 'Investor Services' tab. Under 'Investors Services', click on 'Status of Issue Application'. This will take you to the IPO allotment status page. On the BSE IPO page, follow these steps:

• Choose the Issue Type
• Select the Issue Name from dropdown
• Put in either your application number or PAN number
• Check the box ‘I’m not a robot’
• Click on ‘Search’ to know allotment status

How to Apply for Mahamaya Lifesciences Ltd IPO?

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