1. IPO Snapshot

Symbol: MAYASHEEL
IPO Open Date: June 20, 2025
IPO Close Date: June 24, 2025
IPO Allotment Date: June 25, 2025
IPO Listing Date: June 27, 2025
Issue Size: ₹27.28 Crores
Issue Type: Bookbuilding
Price Band: ₹44 to ₹47 per share
Lot Size: 3000 shares
Minimum Investment: ₹141,000
Listing Exchange: NSE SME

2. Company Overview

Mayasheel Ventures Ltd operates in the infrastructure and construction industry, focusing on delivering diverse and reliable services in its domain. The company emphasizes high-quality standards in all projects, showcasing its expertise in construction. The firm’s robust portfolio demonstrates its ability to manage complex projects effectively. Its SME IPO aims to strengthen financial standing, improve operations, and fuel business growth.

The company has shown steady performance over the years, with strategic initiatives aligning with market demand. Their approach toward innovation and operational efficiency positions them as a promising entity in the infrastructure segment.

3. Grey Market Premium (GMP)

The Grey Market Premium (GMP) serves as an informal indicator of the IPO’s demand and anticipated performance on the listing day. For Mayasheel Ventures Ltd, the current GMP stands at ₹6. While not exceptionally high, it signals steady interest among investors. Prospective investors should keep an eye on daily GMP updates to assess potential listing gains.

4. Shariah Compliance Status

According to the IslamicStock Screener, Mayasheel Ventures Ltd has been marked as Shariah compliant.

✅ The business activity of the company aligns with ethical investing principles as required under Shariah norms.
✅ The impermissible income to total revenue is less than 5 percent.
✅ The interest-bearing debt to total assets is less than 33 percent.
✅ The illiquid assets to total assets ratio is greater than 20%.
✅ The net liquid assets compared to market capitalization is less, which is the requirement for this rule.
✅ The non-compliant investments to total assets have also passed the screening as it’s less than 33%.

An important note to highlight is that an unsecured interest-free loans amounting to ₹1,230.12 lakhs, received from directors and their relatives, have been excluded from total borrowings. This clarification shows transparency in IslamicStock’s screening methodolgy and helps investors make informed decisions. All key financial ratios fall within the Shariah limits, ensuring that the investment is permissible for faith-based investors. The compliance status adds an extra layer of confidence for those who strictly follow Islamic finance principles.

5. Subscription Status

As of Day 1 (June 20, 2025, at around 05:00 PM), the Mayasheel Ventures IPO has been subscribed 2.76 times in total. Here’s the category-wise breakdown:

• QIB (Qualified Institutional Buyers): Subscribed 7.00 times with 2 applications submitted.
• NII (Non-Institutional Investors): Subscribed 0.50 times with 41 applications.
• Retail Individual Investors (RII): Subscribed 1.31 times with 844 applications received.

The IPO has attracted a total of 887 applications on the first day of bidding. Notably, the QIB category shows strong interest, while NII and Retail categories have begun with moderate participation. This early response indicates positive institutional confidence, and further traction in retail and HNI segments is expected as the IPO progresses.

6. Final Thoughts

Mayasheel Ventures Ltd presents an opportunity for investors seeking exposure to the infrastructure and construction industry. Its compliance with Shariah principles, coupled with its focus on operational efficiency and financial growth, enhances its appeal. The IPO offers a chance to invest in a company that is strategically positioned for long-term growth in its sector.

However, investors should remain cautious, analyze the company’s financials thoroughly, and consider market conditions before making any investment decisions.

7. Disclaimer

This article is for informational purposes only and does not constitute investment advice or a recommendation. Please consult with a qualified financial advisor before making any investment decisions. Investing in IPOs is subject to market risk, and past performance is not indicative of future results. Always read the Red Herring Prospectus (RHP) and do your own research before applying.