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02 May 2024

Mayank Cattle Food Limited IPO

Mayank Cattle Food Limited stands as the foremost oil company, offering an extensive selection of products, including Edible Oil, Extracting Corn Oil, Cattle Food, Animal Food, and Cattle Food Cake. The company operates a manufacturing facility that is equipped with the latest machinery and technology which is spread over approx. 87,133 sq.ft. situated at R. S. No. 162, Rajkot Jamnagar Highway, Near Khandheri Stadium, Naranka, Paddhari, Rajkot - 360110, Gujarat. Its manufacturing facility is located in a strategic location that provides easy access to raw materials and transportation.

Mayank Cattle Food IPO is a fixed price issue of Rs 19.44 crores. The issue is entirely a fresh issue of 18 lakh shares. Mayank Cattle Food IPO price is ₹108 per share. The minimum lot size for an application is 1200 Shares. Finshore Management Services Limited is the book running lead manager of the Mayank Cattle Food IPO, while Cameo Corporate Services Limited is the registrar for the issue. The market maker for Mayank Cattle Food IPO is Rikhav Securities.

Mayank Cattle Food IPO Overview

Detail	Description
IPO Date	January 29, 2024 to January 31, 2024
Listing Date	February 5, 2024
Face Value	₹10 per share
Price	₹108 per share
Lot Size	1200 Shares
Total Issue Size	1,800,000 shares (aggregating up to ₹19.44 Cr)
Fresh Issue	1,800,000 shares (aggregating up to ₹19.44 Cr)
Issue Type	Fixed Price Issue IPO
Listing At	BSE SME
Share holding pre issue	3,600,000
Share holding post issue	5,400,000
Market Maker portion	90,000 shares Rikhav Securities

Mayank Cattle Food IPO Timeline (Tentative Schedule)

Detail	Description
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

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

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 IPO Promoter Holding

Share Holding Pre Issue	97.50%
Share Holding Post Issue	65.00%

Company & Financials

The company was incorporated in 1998, Mayank Cattle Food Limited is an Oil company engaged in the business of manufacturing Cattle Food, Animal Food, Cattle Food Cake and Edible Oil. The company operates a manufacturing facility equipped with the latest machinery and technology, situated in Rajkot, Gujarat. The facility covers an area of approximately 87,133 sq. ft. The company currently has a production capacity of 22,896 MT per annum for Maize Oil and 45,792 MT per annum for Maize Cake. In the financial year 2023-24, the company expanded its installed capacity from 18,126 MT per annum to 22,896 MT per annum for Maize Oil and 36,252 MT per annum to 45,792 MT per annum for Maize Cake. Similarly, in the financial year 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 to 36,252 MT per annum for Maize Cake. These expansions aimed to increase the scale of operations and enhance the company's market presence. Products are supplied to Gujarat, Delhi and Maharashtra by the company.

Mayank Cattle Food Limited Financial Information

Period Ended	31 Jul 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
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
Amount in ₹ Lakhs

Key Performance Indicator

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

Objectives of Mayank Cattle Food IPO

The Objectives of the Issue are:

1. Funding Capital Expenditure towards the purchase of additional plant and machinery
2. To meet the Working Capital Requirements
3. To meet the Issue Expenses
4. General Corporate Purposes

Mayank Cattle Food IPO Review

The company is operating in a highly competitive and fragmented segment. It has posted inconsistency in top and bottom lines for the reported periods. Based on FY24 annualized earnings, the issue appears aggressively priced. There is no harm in skipping this pricey issue.

FAQs for Mayank Cattle Food IPO

What Is The Size Of The Mayank Cattle Food IPO?

Mayank Cattle Food IPO Issue includes a fresh Issue of 18,00,000 Equity Shares of the Company at INR 108 per share, totaling INR 1,944 lakhs. The company intends to use the funds raised to allocate funds for equipment, operations, issuance costs, and corporate needs.
What Is The Price Band Of Mayank Cattle Food IPO?

The price band of Mayank Cattle Food IPO is INR 108 per share.
When will Mayank Cattle Food Ltd's IPO be allotted?

The basis of allotment will be finalised on Thursday, February 1, 2024. The credit of shares to the demat accounts will take place on Friday, February 2, 2024.
When will Mayank Cattle Food Ltd's IPO open for subscription?

The IPO subscription window is from January 29, 2024, to January 31, 2024.
What minimum lot size can retail investors subscribe to?

The lot size for the IPO will be 1,200 shares per lot.
When will Mayank Cattle Food Ltd list on exchanges?

Mayank Cattle Food Ltd will be listed on the NSE Emerge on Monday, February 5, 2024.