27-Jan-2024
2 mins read
Mayank Cattle Food Limited IPO 2024 is open for subscription from Monday, January 29, 2024 and will close on Wednesday, January 31, 2024. The price is decided at Rs 108 per share. The minimum lot size of this application for the retail category is 1200 shares. Whereas, the minimum lot size for HNI category is 2 lots consisting of 2400 shares. The minimum amount of investment required for retail category investors is Rs 1,29,600 (108 x 1200 shares). However for HNI category the minimum investment amount is required Rs 2,59,200 (108 x 2400 shares). Mayank Cattle Limited IPO 2024 is a fixed price issue of Rs 19.44 crores. The issue is entirely a fresh issue of 18 lakh equity shares. The allotment for this IPO is expected to be finalized on Thursday, February 1, 2024. The book running lead manager of Mayank Cattle Food Limited is Finshore Management Services Limited. The registrar for this IPO is Cameo Corporate Services Limited. The market maker for the Mayank Cattle Food Limited IPO is Rikhav Securities.
About Mayank Cattle Food Limited
Mayank Cattle Food Limited is an Oil company. It is engaged in the business of manufacturing Animal Food, Cattle Food, Cattle Food Cake and Edible Oil. The business process involves the purchase of Maize Germ, mechanized expelling, packaging and selling of Maize Oil and Maize Cake. The company’s manufacturing unit is equipped with modern machinery and technology which is spread over 87,133 sq.feet. Their manufacturing plant is located in the strategic location that provides easy access to the raw materials and transportation. The factory is located in Rajkot Jamnagar Highway which is a developed area in terms of road, water, electric and internet connectivity etc. Company had a dedicated and skilled workforce. They continuously working to improve the quality of the products and provide satisfaction to their clients.
Objectives of the Issue
The main purpose of this IPO is to raise funds which will be used to fund the capital expenditure toward the purchase of additional plant and machinery. Other than this, the net proceeds will also be used to meet the working capital requirements. Moreover, the funds will cover the public Issue expenses like Underwriting selling commissions, printing and distribution expenses, Legal Fee, Advertisement expenses, Registrar’s Fee, Depository Fee and Listing Fee. Additionally, the general corporate purpose is also one of the important objectives of the issue.
Financial Performance of Mayank Cattle Food Limited
Mayank Cattle Food Limited’s revenue decreased by -4.15% but profit after tax increased by 64.45% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31-Jul-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 5,122.44 | 4,893.64 | 4,163.85 | 3,433.62 |
| Revenue | 7,527.15 | 30,958.14 | 32,300.17 | 18,652.89 |
| Profit After Tax | 57.37 | 131.43 | 79.92 | 71.81 |
| Net Worth | 533.37 | 475.99 | 344.56 | 264.63 |
| Reserves and Surplus | 173.37 | 455.99 | 324.56 | 244.63 |
| Total Borrowing | 3,788.35 | 3,961.00 | 3,163.53 | 2,531.49 |
| Amt in Lakhs |
Other Important Details of Mayank Cattle Food Limited IPO
| IPO Date | January 29, 2024 to January 31, 2024 |
| Listing Date | 5-Feb-24 |
| Face Value | Rs10 per share |
| Price | Rs 108 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 1,800,000 shares (amounting to Rs 19.44 crore) |
| Fresh Issue | 1,800,000 shares (amounting to Rs 19.44 crore) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Shareholding pre issue | 3,600,000 |
| Shareholding post issue | 5,400,000 |
| Market Maker portion | 90,000 shares Rikhav Securities |
Lot Size of Mayank Cattle Food Limited IPO
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 1200 | Rs 1,29,600 |
| Retail (Max) | 1 | 1200 | Rs 1,29,600 |
| HNI (Min) | 2 | 2400 | Rs 2,59,200 |
IPO Reservation of Mayank Cattle Food Limited
| Investor Category | Shares Offered |
| Retail Shares Offered | 50% of the Net issue |
| Other Shares Offered | 50% of the Net issue |
Promoters of Mayank Cattle Food Limited
The promoters of the company are Mr. Bharatkumar Popatlal Vachhani and Mr. Ajay Popatlal Vachhani.
Promoter Holdings of Mayank Cattle Food Limited
| Shareholding Pre Issue | 97.50% |
| Shareholding Post Issue | 65.00% |
Time-Table of Mayank Cattle Food Limited IPO 2024
| IPO Open Date | Monday, January 29, 2024 |
| IPO Close Date | Wednesday, January 31, 2024 |
| Basis of Allotment | Thursday, February 1, 2024 |
| Initiation of Refunds | Friday, February 2, 2024 |
| Credit of Shares to Demat | Friday, February 2, 2024 |
| Listing Date | Monday, February 5, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on January 31, 2024 |
Key Performance Indicator of Mayank Cattle Food Limited IPO 2024
The market capitalization of Mayank Cattle Food Limited Rs 52.32 crore.
| KPI | Values |
| ROE | 32% |
| ROCE | 11.27% |
| Debt/Equity | 9.13 |
| RoNW | 27.61% |
| P/BV | 0.45 |
| Pre IPO | Post IPO | |
| EPS (Rs) | 3.65 | 3.19 |
| P/E (x) | 29.58 | 33.89 |
Lead Manager(s) of Mayank Cattle Food Limited IPO 2024
The lead manager for Mayank Cattle Food Limited IPO is Finshore Management Services Limited (Past IPO Performance)
How to Apply for Mayank Cattle Food Limited IPO 2024
Wait for the public issue to open for subscription, then click on this link to apply for the Mayank Cattle Food Limited IPO with Bigul https://ipo.bonanzaonline.com/.
How to Check Allotment Status of Mayank Cattle Food Limited IPO 2024
The registrar for Mayank Cattle Food Limited IPO is Cameo Corporate Services Limited. To check your allotment status, please click on this link https://ipo.cameoindia.com/
FAQs
- What is Mayank Cattle Food Limited IPO 2024?
Mayank Cattle Limited IPO 2024 is a fixed price issue of Rs 19.44 crores. The issue is entirely a fresh issue of 18 lakh equity shares. The price is decided at Rs 108 per share. The minimum lot size of this application for the retail category is 1200 shares.
- Who are the lead managers for the Mayank Cattle Food Limited IPO 2024?
Finshore Management Services Limited are appointed as the lead managers for the IPO.
- What is the role of Cameo Corporate Services Limited in this IPO?
Cameo Corporate Services Limited is the registrar for the Mayank Cattle Food Limited handling the IPO’s administrative aspects.
- How can I apply for the Mayank Cattle Food Limited IPO 2024?
The public subscription of this IPO has already begun. Visit Bigul website for the application process.
- How will the net proceeds from the IPO be utilized?
The net proceeds from the IPO will be used to fund the capital expenditure toward the purchase of additional plant and machinery. Other than this, the net proceeds will also be used to meet the working capital requirements.
- How can I check the allotment status of the IPO?
You can check the allotment status of the Mayank Cattle Food Limited IPO 2024 by clicking on this link https://ipo.cameoindia.com/
- What is the financial performance of Mayank Cattle Food Limited?
Mayank Cattle Food Limited’s revenue decreased by -4.15% but profit after tax increased by 64.45% between the financial year ending with March 31, 2023 and March 31, 2022.