Mayank Cattle Food IPO will open for subscription from 29 January 2024. The company aims for an issue size of ₹19.44 Cr through this IPO.
Company Overview
| Full name | Mayank Cattle Food Limited |
| Sector | Agriculture |
| Industry | Solvent Extraction |
| Company Website | https://www.mayankcattlefood.com/ |
About Company
Established in 1998, Mayank Cattle Food began manufacturing Maize oil (Non-edible) and Maize Cake (Cattle Feed). Specializing in these products, the company’s process encompasses maize germ procurement, mechanized expelling, and packaging for the sale of Maize Oil and Maize Cake.
Currently, Mayank Cattle Food boasts a production capacity of 22,896 MT per annum for Maize Oil and 45,792 MT per annum for Maize Cake. In FY 2023-24, the company augmented its installed capacity, elevating Maize Oil from 18,126 MT per annum to 22,896 MT per annum, and Maize Cake from 36,252 MT per annum to 45,792 MT per annum. Furthermore, in FY 2021-22, the company expanded its installed capacity from 14,310 MT per annum to 18,126 MT per annum for Maize Oil and from 28,620 MT per annum to 36,252 MT per annum for Maize Cake. These strategic expansions aim to amplify operational scale and fortify the company’s market presence.
The company operates a cutting-edge manufacturing facility in Rajkot, Gujarat, covering around 87,133 square feet. Equipped with the latest machinery and technology, it signifies a commitment to innovation and efficiency. The company maintains a diversified customer base, predominantly spanning states such as Gujarat, Delhi, and Maharashtra. As of 31 December 2023, the company employs a total of 120 individuals, with 104 of them classified as workers.
The Objectives of the Issue
- Funding Capital Expenditure towards the purchase of additional plant and machinery
- To meet the Working Capital Requirements
- To meet the Issue Expenses
- General Corporate Purposes
Mayank Cattle Food IPO Timetable
| IPO Opening date | 29 January 2024 |
| IPO Closing | 31 January 2024 |
| Basis of Allotment | 01 February 2024 |
| Initiation Refund | 02 February 2024 |
| Credit to Demat Account | 02 February 2024 |
| Listing Date | 05 February 2024 |
Mayank Cattle Food IPO details
| Issue type | Fixed Price Issue IPO |
| IPO issue size | ₹19.44 Cr – 1,800,000 shares |
| Fresh Issue | ₹19.44 Cr – 1,800,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Offer Price | ₹108 per share |
| Lot size | 1200 Shares |
| Market Maker portion | 90,000 shares |
| Shareholding pre-issue | 3,600,000 |
| Shareholding post-issue | 5,400,000 |
| Listing Exchange | BSE SME |
Mayank Cattle Food IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹129,600 |
| Retail (Max) | 1 | 1200 | ₹129,600 |
| HNI (Min) | 2 | 2,400 | ₹259,200 |
Mayank Cattle Food IPO Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 90,000 (5.00%) |
| Other Shares Offered | 855,600 (47.53%) |
| Retail Shares Offered | 854,400 (47.47%) |
| Total Shares Offered | 1,800,000 (100%) |
Mayank Cattle Food Financial Performance
| FY 2021 | FY 2022 | FY 2023 | 4M FY 2024 | |
| Revenue | 186.32 | 322.63 | 309.18 | 75.08 |
| Expenses | 185.56 | 321.86 | 307.81 | 74.24 |
| Net income | 0.72 | 0.80 | 1.31 | 0.57 |
Mayank Cattle Food Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 1.99 | 2.22 | 3.65 |
| PE ratio | – | – | 29.59 |
| RONW (%) | 27.13 | 23.20 | 27.61 |
| NAV | – | – | 13.22 |
| ROCE (%) | 10.58 | 9.91 | 11.27 |
| EBITDA (%) | 2.12 | 1.34 | 2.05 |
| Debt/Equity | 11.83 | 10.94 | 9.13 |
Company Promoters
- Mr. Bharatkumar Popatlal Vachhani
- Mr. Ajay Popatlal Vachhani
Promoter Holding
| Pre Issue Share Holding | 97.50% |
| Post Issue Share Holding | 65% |
Mayank Cattle Food Lead Manager(s)
FINSHORE MANAGEMENT SERVICES LIMITED
Anandlok Building, Block-A, 2nd Floor, Room No. 207, 227
A.J.C Bose Road, Kolkata-700020, West Bengal, India
Phone: 033 – 2289 5101 / 4603 2561
Email: info@finshoregroup.com
Website: www.finshoregroup.com
Mayank Cattle Food Registrar
CAMEO CORPORATE SERVICES LIMITED
No. 01, Club House Road, Mount Road,
Chennai – 600 002, Tamil Nadu
Phone: +91-44 4002 0700, 28460390
Email: ipo@cameoindia.com
Website: www.cameoindia.com
Mayank Cattle Food Contact Details
MAYANK CATTLE FOOD LIMITED
R. S. No. 162, Rajkot Jamnagar Highway,
Near Khandheri Stadium, Vill. Naranka, Tal.
Paddhari, Rajkot, Gujarat, 360110, India
Phone: +91 90333 33123
E-mail: cs@mayankcattlefood.com
Website: www.mayankcattlefood.com
Mayank Cattle Food IPO Allotment Status
Mayank Cattle Food IPO allotment status is now available on Cameo Corporate Services’ website. Click on Cameo Corporate Services weblink to get allotment status.
Final thoughts
Mayank Cattle Food IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
