M R Maniveni Foods, a company specializing in pulse processing, is set to list its shares today after its Rs 27 crore IPO was open for subscription from May 22 to May 26. The IPO, priced at Rs 52 per share, aims to support the company's working capital and general corporate purposes.
The IPO comprised a fresh issue of 52 lakh shares, aggregating Rs 27.04 crore, with no offer-for-sale component. Prior to the IPO opening, M R Maniveni Foods raised Rs 7.64 crore from anchor investors through the allotment of 14.7 lakh shares. Incorporated in 2010, the company focuses on the processing, packaging, and distribution of food products, primarily urad dal and toor dal, catering mainly to B2B customers.
For the fiscal year 2025, M R Maniveni Foods reported a total income of Rs 203.5 crore, up from Rs 155 crore in FY24. The profit after tax also saw an increase, rising to Rs 4.13 crore from Rs 2.18 crore the previous year. As of March 31, 2025, the company had total assets of Rs 41.1 crore and a net worth of Rs 18.6 crore.
Capital Square Advisors served as the book-running lead manager for the issue, while Bigshare Services acted as the registrar. CapitalSquare Financial Services is the market maker for the IPO. The company's emphasis on quality control, modern processing techniques, and supply chain management is central to its operations.
The flat grey market premium suggests that investors are adopting a wait-and-watch approach towards the IPO. Grey market premiums are unofficial indicators of investor sentiment and do not guarantee actual listing performance.
Background
M R Maniveni Foods has been steadily growing its revenue and profitability, as evidenced by its recent financial performance. The company's focus on quality and supply chain management has positioned it well in the B2B food distribution market.
Looking ahead, investors will be keen to see how M R Maniveni Foods performs post-listing, especially given its steady growth trajectory and the current cautious market sentiment. The company's focus on quality and supply chain management will be critical in maintaining its market position.
