Mayasheel Ventures Limited IPO

IPO Details		RHP:
Bidding Date 20 June’2025	IPO Price Range ₹44 to ₹47 per share	IPO Size ₹27.28 Cr
Listing Exchange NSE SME	Listing Date 27 June’2025	Lot Size 3,000 Shares

Minimum Investment
₹ 1,32,000 / 3000 shares

IPO Timeline

Open Date 20 June’2025

Close Date 24 June’2025

Allotment Finalisation25 June’2025

Demat Transfer 26 June’2025

Refund Initiation26 June’2025

Listing27 June’2025

About Mayasheel Ventures Limited IPO

Mayasheel Ventures Limited, formerly operating as Mayasheel Construction (a partnership firm since 2008), is a civil infrastructure company headquartered in Ghaziabad, Uttar Pradesh. It was converted into a public limited company in May 2024. The company specialises in constructing roads and highways, and executing EPC (Engineering, Procurement, and Construction) contracts, primarily for government clients across North and East India. MVL’s service offerings include earthwork, asphalt laying, culvert construction, and road widening projects. It has a track record of executing both new projects and maintenance contracts, with key clients including NHAI and various state PWD departments. The company proposes to raise capital through an IPO of up to 58,05,000 equity shares to strengthen working capital, repay debt, and provide financial flexibility for upcoming government tenders.

Mayasheel Ventures Limited IPO Subscription Status

Date	QIB	NII	Retail	Total
20-Jun-25	0.00	0.02	0.07	0.04
TBA	0	0	0	0

Mayasheel Ventures Limited IPO Financial Status

Particulars (in Rs. Crores)	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	99.10	92.56	79.03
Revenue	172.05	131.14	127.10
Profit After Tax	11.33	6.51	4.75
Net Worth	28.84	24.09	18.06
Reserves and Surplus	12.59	0.00	0.00
Total Borrowing	34.06	35.05	33.23

Mayasheel Ventures Limited IPO SWOT Analysis

Strengths

Well-established Government Projects: Experienced in carrying out major road and highway works for the state and centre-level agencies through the EPC model.
Active Execution across Two Regions: A strong pipeline of work and several current contracts are being carried out in Uttar Pradesh and Assam.
Seasoned Promoters: With more than 15 years of experience in road construction, the promoters ensure that decisions are made properly and that projects are finished as scheduled.
Project Qualification Credentials: Accredited with working on major tenders, resulting in consistent orders from public works departments.

Risks

High Debt-to-Equity Ratio: As of June 2024, D/E stood at 3.19:1, reflecting significant reliance on borrowed funds and potential stress on liquidity during downturns.
Loan & Asset Name Mismatch: Outstanding loans and insurance policies still reflect the previous entity name (“Mayasheel Construction”), posing legal and compliance risks.
Raw Material Dependency: The majority, or 80%, of the company's raw materials were from Assam and West Bengal during the past year, making it vulnerable if supply stops.
Bank Guarantee Obligations: Contingent liabilities of ₹2,936.86 lakh related to performance guarantees may strain cash flows if invoked due to project delays or disputes.