M R Maniveni Foods
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 22 May 2026 – 26 May 2026
- Listing date
- 01 Jun 2026
- Face value
- ₹10 per share
- Price band
- ₹51 – ₹52
- Issue price
- ₹52 per share
- Lot size
- 2,000 shares
- Total issue size
- ₹27.04 Cr
- Market cap at offer price
- ₹102 Cr
- Promoter holding
- 98.68% → 72.46% pre-issue → post-issue
- ISIN
- INE0YD301010
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Capital Square Advisors Pvt.Ltd.
- Registered office
- S.No.220/3A-3B, Madhavaram-Redhills, High Road (Near Vadaperumbakkam), Madhavaram, Tamil Nadu
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 14,70,000 | — | — |
| Market maker | 2,60,000 | — | — |
Application size
Minimum 2,000 shares per lot, in multiples, at ₹52
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 2,000 | ₹1,04,000 |
| S-HNI (min) | 2 | 4,000 | ₹2,08,000 |
| S-HNI (max) | 9 | 18,000 | ₹9,36,000 |
| B-HNI (min) | 10 | 20,000 | ₹10,40,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 2.87 | 2.27 |
| P/E (×) | 18.12 | 22.91 |
| Price to book (×) | 4.14 | — |
| Market cap | — | ₹102 Cr |
Key performance indicators
- Return on net worth
- 27.61%
- ROCE
- 17.14%
- Debt / equity
- 1.10
- PAT margin
- 2.03%
- EBITDA margin
- 3.84%
- NAV per share
- ₹12.56
- Price to book
- 4.14
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About M R Maniveni Foods
M R Maniveni Foods Limited is a pulse milling company incorporated in 2010 and converted to a public limited company in February 2025. The company operates two existing milling facilities located in Madhavaram, Chennai, Tamil Nadu, processing raw black gram (Urad Dal) and raw pigeon pea (Toor Dal) into finished consumer products. The company has an aggregate installed capacity of 29,400 MT per annum across both units. The company sells primarily to distributors, supermarket chains, and wholesalers, with significant concentration in South India, particularly Tamil Nadu and Karnataka. Revenue increased from ₹11,957.83 lakhs in FY 2023 to ₹20,348.38 lakhs in FY 2025. The company intends to expand capacity by establishing a new fully automated Toor Dal processing plant at a different location.
Company Analysis
from DRHPM R Maniveni Foods Limited processes and sells pulse mill products, specifically Toor Dal and Urad Dal, serving domestic wholesale and retail markets across South India.
M R Maniveni Foods Limited is a pulse milling company incorporated in 2010 and converted to a public limited company in February 2025. The company operates two existing milling facilities located in Madhavaram, Chennai, Tamil Nadu, processing raw black gram (Urad Dal) and raw pigeon pea (Toor Dal) into finished consumer products. The company has an aggregate installed capacity of 29,400 MT per annum across both units. The company sells primarily to distributors, supermarket chains, and wholesalers, with significant concentration in South India, particularly Tamil Nadu and Karnataka. Revenue increased from ₹11,957.83 lakhs in FY 2023 to ₹20,348.38 lakhs in FY 2025. The company intends to expand capacity by establishing a new fully automated Toor Dal processing plant at a different location.
Objects of the Issue
- Funding Capital Expenditure requirements towards Construction of Factory ₹885 lakhs p.102
- Funding Capital Expenditure requirements towards purchase of Plant & Machinery ₹1,044 lakhs p.102
- General corporate purposes ₹373.14 lakhs p.102
Issue Structure
- Total Issue
- ₹2,704 lakhs (52,00,000 Equity Shares of face value of ₹10 each at an Issue Price of ₹52 per Equity Share)
- Fresh Issue
- 52,00,000 Equity Shares aggregating to ₹2,704 lakhs
- Offer for Sale
- NIL
- Price Band
- ₹51 to ₹52 per Equity Share
- Lot Size
- 2,000 Equity Shares (Bid Lot: 4,000 equity shares and multiples of 2,000 thereafter)
- Face Value
- ₹10 per Equity Share
Business Model
The company operates a pulse milling business where it sources raw black gram and raw pigeon pea from agricultural suppliers and agents, processes them through automated and semi-automated milling facilities involving cleaning, grading, splitting, de-husking, polishing, and packaging, and sells the finished Toor Dal and Urad Dal products to wholesale distributors and retail chains. Revenue is primarily generated from the sale of processed pulses.
Business Segments
SWOT Analysis
- • Long-standing supplier and customer relationships(p.25)
- • Positive cash flow generation and operational profitability(p.32)
- • Revenue growth and margin expansion trajectory(p.40)
- • Established distribution network in core South Indian markets(p.37)
- • High capacity utilization in existing Toor Dal operations(p.117)
- • Heavy dependence on limited customer base(p.25)
- • No long-term contracts with customers creating revenue volatility(p.25)
- • Absence of long-term supplier contracts exposes to raw material cost volatility(p.25)
- • Both manufacturing facilities concentrated in single geographic location(p.26)
- • Low absolute capacity utilization despite recent improvement(p.116)
- • High working capital intensity with significant inventory holding periods(p.31)
- • Past regulatory compliance delays and filing issues(p.28)
- • High domestic demand for pulse products(p.103)
- • Capacity expansion into fully automated Toor Dal processing(p.103)
- • Growing customer traction and market potential for Toor Dal(p.117)
- • Public listing to enhance market presence and liquidity(p.102)
- • India's position as global pulse producer with abundant raw material supply(p.103)
- • Raw material price volatility and supply disruptions(p.30)
- • Climate and weather-related risks to agricultural production(p.43)
- • Intense competition from organized and unorganized players(p.43)
- • Regulatory compliance and licensing requirements(p.28)
- • Economic slowdown and inflation impacting consumer spending(p.59)
- • Geopolitical tensions and terrorism risk(p.62)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| K R Manikandan | Promoter | 32.59% | 23.93% |
| M Chandra | Promoter | 50.31% | 36.94% |
| K Selvam | Promoter | 15.78% | 11.59% |
Leadership
Auto-extracted from the company's DRHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official DRHP before relying on it.