Mayasheel Ventures IPO GMP

July 20, 2025 Written By Mihir Gohel, Reviewed and Fact Checked by Harpal Parmar

Mayasheel Ventures Limited (MVL), incorporated on May 30, 2024, is a Class A government contractor specializing in the construction of roads, highways, bridges, and electrical works. The company operates on an Engineering, Procurement, and Construction (EPC) and Bill of Quantity (BOQ) basis, executing large-scale infrastructure projects for organizations like the National Highways and Infrastructure Development Corporation Ltd. (NHIDCL). The Mayasheel Ventures IPO comprises up to 5,805,000 equity shares of ₹10 each, aggregating to ₹27.28 crores.

₹13

Latest IPO GMP

Last updated on 26 Jun 2025 11.18

₹47

IPO Offer Price

*cut off price

₹58.00

Listing Price

Listing Date 27/06/2025

Expert Opinions

Market sentiment for the Mayasheel Ventures IPO is cautiously optimistic, reflecting investor interest in SMEs aligned with India’s infrastructure growth, particularly as the company is actively involved in government road and highway projects. The company’s strengths include robust revenue growth—from ₹131.14 crore in FY2024 to ₹172.05 crore in FY2025—and a strong business-to-government (B2G) model, with most income derived from contracts with government agencies such as NHIDCL. Risks and challenges include a relatively high debt-to-equity ratio (1.60), dependence on government contracts, and exposure to raw material price volatility and project execution risks.

Valuation analysis for Mayasheel Ventures IPO in FY2025 indicates impressive financial health, with Return on Equity (ROE) at 42.83%, Return on Capital Employed (ROCE) at 28.62%, and Net Asset Value (NAV) of ₹17.73, reflecting efficient capital utilization and strong profitability. The long-term investment perspective is positive, given India’s ongoing infrastructure push and the company’s established position in government projects; however, investors should monitor sector risks and the company’s ability to manage debt and diversify its client base for sustained growth.

Investor Considerations

Investors considering the Mayasheel Ventures Ltd. IPO should note the company’s strong performance and fundamentals, with revenue rising from ₹131.14 crore in FY2024 to ₹172.05 crore in FY2025 and profit after tax increasing from ₹6.51 crore to ₹11.33 crore, reflecting robust growth and improving profitability. The sector outlook is positive, driven by India’s ongoing infrastructure development and government-led projects in roads, highways, and urban infrastructure.

Mayasheel Ventures IPO valuation for FY2025 stands at a Price to Book Value of 2.65, PAT margin of 6.63%, and a debt/equity ratio of 1.60, indicating moderate leverage and reasonable profitability. Growth prospects are promising, supported by a healthy order book of ₹201.60 crore and a proven track record in government contracts. However, risk factors include dependence on government tenders, project execution risks, and raw material price volatility. Short-term investors should be mindful of market volatility, while long-term investors may benefit from India’s sustained infrastructure push and Mayasheel’s established position in the sector.