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Mahamaya Lifescience Limited specializes in the manufacturing, marketing, and export of crop protection products and bioproducts for agriculture and soil health management. Mahamaya Lifesciences is known for its strong branding portfolio with key products like MAYAMECTIN, MAYAIMIDA, MAYAPRID, and others.
The IPO consists of a Fresh issue of up to 56,38,800 equity shares and an Offer for Sale of up to 5,40,000 equity shares, with a total issue size of ~₹70.44 Crore.
The IPO is open for subscription from 11th Nov’25 and closes on 13th Nov’25, and the allotment for the Mahamaya Lifesciences IPO is expected to be finalized on Nov 14, 2025.
The price range of the IPO is set between ₹108-₹114 per equity share.
The lot size for single application is 1,200. While minimum amount of investment required by an individual investor (retail) is ₹2,73,600.00 (2,400 shares for 2 lots, Considering upper price band)
Revenue, PAT, EBITDA of Mahamaya Lifescience
| Year | 2025 |
| Networth | ~ ₹ 53.50 Cr |
| Revenue: | ~ ₹ 267.17 Cr |
| EBITDA | ~ ₹ 24.64 Cr |
| PAT | ~ ₹ 12.9 Cr |
| EBITDA Margin: | ~9.22% |
| PAT Margin | ~4.84% |
Mahamaya Lifescience Financials (Consolidated Figures)
| Year (Approx Values) | Revenue (₹ Cr) | Profit (₹ Cr) | Assets (₹ Cr) | Net Worth (₹ Cr) |
| 2023 | ₹ 137.4 | ₹ 3.8 | ₹ 77.9 | ₹ 19.4 |
| 2024 | ₹ 162.8 | ₹ 5.2 | ₹ 112.1 | ₹ 24.7 |
| 2025 | ₹ 267.2 | ₹ 12.9 | ₹ 188.4 | ₹ 53.5 |
Mahamaya Lifesciences IPO Grey market premium today
| Date | IPO Price | IPO GMP | GMP Trend | Estimated listing | Estimated profit per 2 lot |
| 13-Nov | ₹ 108-114 | ₹ | – | ₹ – | ₹ |
| 12-Nov | ₹ 108-114 | ₹ 00 | NA | ₹ – | ₹ |
| 11-Nov | ₹ 108-114 | ₹ 00 | NA | ₹ – | ₹ |
| 10-Nov | ₹ 108-114 | ₹ 00 | NA | ₹ – | ₹ – |
| 09-Nov | ₹ 108-114 | ₹ 00 | NA | ₹ – | ₹ – |
Mahamaya Lifescience IPO Pros & Cons
Strengths:
- Strong Revenue and Profit Growth: The company has extraordinary growth rate over the last three years, as the revenue jumped from ₹137 crore in FY23 to ₹267 crore in FY25. And the profit rising from ₹3.75 Cr to nearly ₹13 Cr in the same period.
- Diversified Product Portfolio: Mahamaya offers a wide range of over 278 products, including insecticides, fungicides, herbicides, biopesticides, and biofertilizers, catering to broad agricultural needs.
- Expanding Market Reach: With a string network of more than 310 dealers across India and exports to multiple countries, indicating robust domestic and international presence.
- Focus on Innovation and Sustainability: In-house R&D facility of Mahamaya gives an advantage on developing newer, safer, and more effective agrochemical products, including eco-friendly alternatives, aligning well with global sustainability trends.
- Established Promoter and Leadership Team: Led by experienced promoters and management, the company has navigated steady growth without early-stage venture funding, showing disciplined financial management.
- Growing Agrochemical Industry: The agrochemical sector is a flourishing industry in India as well as across the globe. Due to increasing demand for food security and sustainable agriculture practices, Mahamaya Lifescience has a bright future to step to.
Risks:
- Industry and Regulatory Risks: The agrochemical sector is highly regulated, and any changes in agricultural policies or export rules may lead to delays in product approvals or increased costs.
- Seasonal Demand and Weather Dependency: Crop production and demand for crop protection products are influenced by monsoon patterns and agricultural cycles, causing revenue seasonality and unpredictability.
- Moderate Size and Competition: Compared to large global players, the company is relatively small (SME), which may limit its bargaining power, economies of scale, and competitive ability.
- Financial and Operational Concerns: Though profitability has grown, sharp growth from FY25 onwards raises questions about sustainability. The quality of cash flows and increasing inventory and receivables may impose liquidity challenges.
- IPO Pricing: The IPO seems to be slightly overpriced, as per valuations.
Mahamaya Lifescience : IPO date & invest detail
| IPO Open Date: | 11 Nov 2025 |
| IPO Close Date: | 13 Nov 2025 |
| Anchor Investor Bidding | 10 Nov 2025 |
| IPO Allotment Date: | 14 Nov 2025 |
| Refunds & Demat Credit | 17 Nov 2025 |
| Tentative Listing Date: | 18-Nov’25 |
| IPO Category | SME |
| Symbol | MAHAMAYA |
| Face Value: | Rs. 10 per Equity Share |
| Issue Size: | ~ ₹ 70.44 Crore |
| Lot Size: | 1200 (Minimum 2 lots) |
Mahamaya Lifescience IPO Composition & Proceeds
| Fresh Issue: | ~ ₹ 64.24 Crore |
| Offer for Sale: | ~ ₹ 6.16 Crore |
| Employee reservation | – |
| Price Range | ₹ 108-114 |
| Use of Proceeds: | |
| Purchase of equipment for Formulation Plant | ~ ₹ 37.53 Crore |
| Setting new technical Manufacturing plant | ~ ₹ 32.36 Crore |
| Working Capital Requirement | ~ ₹ 18 Crore |
| Warehouse Builiding & Machinery purchase | ~ ₹ 2.77 Crore |
| IPO Listing on: | BSE – SME |
| Retail Quota: | ≥ 33% |
| QIB Quota: | ≤ 50% |
| NII Quota: | ≤ 15% |
Mahamaya Lifescience Lot Size details
| Application Type | Lot Size | No. of Lots | No. of Shares | Investment Amount |
| Retail(Min) | 1,200 | 2 | 2,400 | ₹ 2,73,600 |
| Retail (Max) | 1,200 | 2 | 2,400 | ₹ 2,73,600 |
| Small HNI (Min) | 1,200 | 3 | 3,600 | ₹ 4,10,400 |
| Small HNI (Max) | 1,200 | 7 | 8,400 | ₹ 9,57,600 |
| Big HNI (Min) | 1,200 | 8 | 9,600 | ₹ 10,94,400 |
Core Offerings of Mahamaya Lifescience
Mahamaya Lifescience has a diverse portfolio of agrochemical products designed for crop protection and soil health management.
It manufactures 136 insecticide products, 71 fungicide products, 58 herbicide products,9 bio stimulants or plant growth regulator formulations 3 biopesticides,1 biofertilizer.
Their products come under the brand name MAYAMECTIN, MAYAIMIDA, MAYAPRID, MAYASHIELD, UCHIT EW 370, and MAYAMRIT.
No. of Stores/Mahamaya Lifescience’s customer reach/market share
The company has one manufacturing plant in Dahej, Gujarat.
Mahamaya Lifesciences has extensive reach within India and internationally through a well-established network of more than 310 dealers operating across key Indian agricultural states like Punjab, Haryana, Rajasthan, Uttar Pradesh, Gujarat, Maharashtra, Andhra Pradesh, and Telangana.
It also exports its products to countries like Egypt, Jordan, Ethiopia, UAE, Dominican Republic, and Turkey, reflecting strong global presence.
Mahamaya Lifesciences Promoters – Pre offer equity (Approx)
| Mr. Krishnamurthy Ganesan | ~30.88 % |
| Mrs. Lalitha Krishnamurthy | ~23.20% |
| Mr. Prashant Krishnamurthy | ~23.20% |
Lead Managers / Registrars of Mahamaya lifesciences
| Lead / Book Running Lead Managers | Oneview Corporate Advisors Private Limited |
| Registrar (RTA) | MUFG Intime India Pvt Ltd |
Founding Year of Mahamaya Lifescience & Managing Drector
Mahamaya lifescience was incorporated in the year 2002.
Mr. Krishnamurthy Ganesan is the Managing Director of Mahamaya Lifesciences.
Mahamaya Lifescience FAQ
Q1. What is the business of Mahamaya lifesciences?
Mahamaya Lifescience is primarily engaged in the manufacturing, registration, and marketing of pesticide formulations and biological products aimed at crop protection and soil health management.
Q2. Why is the purpose of raising funds via IPO?
Mahamaya Lifesciences is raising funds via its IPO to invest in expanding manufacturing capacity by purchasing new equipment and setting up a new technical-grade pesticide plant, constructing warehouse infrastructure, meeting working capital needs, and supporting general corporate purposes.
Q3. What is the size of the issue and where will it list?
The issue size is ₹70.44 Crore and It will be listed on BSE-SME.
Q4. What are the risks of investing in this Mahamaya Lifesciences IPO?
Investment risks in Mahamaya Lifesciences IPO include high dependency on a few large customers, lack of long-term supply agreements, raw material price volatility, regulatory approval uncertainties, seasonal demand affecting revenue, liquidity strains due to rising inventory and receivables, and competition from larger players.
Q5. What are the potential upsides of investing in this Mahamaya Lifesciences IPO?
Potential upsides of Mahamaya Lifesciences include strong revenue growth, expanding dealer and export network, focus on eco-friendly bio-based products, increasing production capacity, and benefiting from rising global demand for sustainable agriculture solutions.
Q6. How to apply for the IPO?
You can apply via your brokerage/demat account when the IPO opens (11 Nov 2025 to 13 Nov 2025 tentative) and follow usual SME IPO subscription steps (UAN, ASBA, etc).
Q 7. When is the tentative listing date?
Expected listing date for the IPO is in 18-Nov’25.
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For further information you can visit official website of Mahamaya Lifesciences