IPO Details
Bidding Dates
28 Jan '24 - 30 Jan '24
Minimum Investment
₹129,600 / 1 Lots ( 1200 Shares )
Price Range
₹108
Maximum Investment
₹129,600 / 1 Lots ( 1200 Shares )
Retail Discount
Not Applicable
Issue Size
₹19.44 Cr
Investor category and sub category
Non-Institutional Buyers | Retail Investors | Total |IPO Dates
Important dates with respect to IPO allotment and listing
Opening Date
Jan 28, 2024
Closing Date
Jan 30, 2024
Basis of Allotment
Jan 31, 2024
Initiation of Refunds
Feb 1, 2024
Credit of Shares to Demat
Feb 1, 2024
Listing Date
Feb 4, 2024
Cut-off time for UPI mandate confirmation
Jan 30, 2024
IPO Subscription Details
| Date | NII | Retail | Total |
|---|---|---|---|
Day 1Jan 28, 2024 |
0.46x | 1.10x | 0.78x |
IPO Subscription Live Status
| Investor Category | Subscription (Times) |
|---|---|
| Non-Institutional Buyers | 0.46 |
| Retail Investors | 1.10 |
| Total | 0.78 |
About Company
Mayank Cattle Food Ltd was established in 1998 to manufacture maize cake which is a type of cattle feed, and maize oil, which is non-edible but can be processed into edible oil by refining companies. The business process involves the purchase of the maize germ, then mechanised expelling, packaging and selling of the maize oil and maize cake. They operate out of a single manufacturing facility located in the strategic location on the Rajkot Jamnagar Highway that provides easy access to raw materials and transportation.
The company has a customer base covering states like Gujarat, Delhi and Maharashtra. They mainly market their products through different revenue channels, including marketing agents, brokers and direct-to-consumers. In the year 2020, Mayank Cattle Feed setup environment-friendly solar power panels of 150kva at their factory premises for captive consumption by the company.
India is a major net exporter of animal feed. In the last 5 years. India witnessed an 11.4% CAGR in animal feed exports over a span of 5 years. The primary foreign markets for India are Bangladesh, Vietnam, etc. India’s own market for cattle feed has been expanding at a CAGR of 15%. Such a growing market can present an opportunity for future growth to an organised player like Mayank Cattle Feed. Moreover, as 56% of domestic edible oils is met through imports, there is also a major opportunity in the domestic market for edible oil-related operations of Mayank Cattle Feed.
Mayank Cattle Food Ltd IPO Details
Mayank Cattle Food Ltd IPO Date
The dates for bidding for the Mayank Cattle Food IPO are January 29, 2024, to January 31, 2024.
Mayank Cattle Food Ltd IPO Price Band
Mayank Cattle Food is a fixed-price IPO. The exact price range is ₹108 per share.
Mayank Cattle Food Ltd IPO Lot Size
The Mayank Cattle Food Ltd IPO lot size is 1,200 shares per lot.
Mayank Cattle Food Ltd IPO Objectives
The net proceeds from the issue are proposed to be utilised towards the following objects:
- Funding capital expenditure toward the purchase of additional plant and machinery.
- Working capital requirement
- Issue related expenses
- General corporate expenses
Peer Details
There are no listed peer companies of Mayank Cattle Food in India.
How To Check the Allotment Status of the Mayank Cattle Food Ltd IPO?
A: Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Mayank Cattle Food Ltd
Registered office: 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
Company Financials
| Financial year | Year Ending on March 31, 2023 | Year Ending on March 31, 2022 | Year Ending on March 31, 2021 |
|---|---|---|---|
| Total Revenue | 30,958.14 | 32,300.17 | 18,652.89 |
| Profit After Tax | 131.43 | 79.92 | 71.81 |
| Return on Capital Employed | 11.27% | 9.91% | 10.58% |
| Debt Service Coverage Ratio | 2.04 | 1.94 | 1.85 |
| Current Ratio | 1.16 | 1.41 | 1.39 |
Know before investing
Strengths
3-
The company started its operations in the year 1998, and since then they have witnessed consistent and stable growth. This allows them to access a high degree of experience, especially among its promoters.
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The company also has long-standing relations with its suppliers that allow it a higher degree of flexibility and trust than its potential competitors.
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Their focus is presently on increasing sales volume through expansion, diversification and spread in geographical outreach.
Risks
3-
In the financial year ended March 31, 2023, March 31, 2022, and March 31, 2021, the top ten suppliers of Mayank Cattle Feed accounted for 82.24%, 74.47% and 75.29% of its total purchases, respectively. This presents a significant concentration of suppliers that may put its supply chain at risk.
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The company operates its manufacturing process out of a single facility in Gujarat. Any issues that disrupt that single facility’s operations may jeopardise the company’s overall operations.
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The company has experienced negative cash flow overall in the past three financial years, despite having a profit in those years This may present a risk of mismanagement of cash flow.
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Mayank Cattle Food Ltd IPO FAQs
Mayank Cattle Food IPO is a fixed-price IPO. The dates for the IPO are January 29, 2024, to January 31, 2024.
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.
The IPO subscription window is from January 29, 2024, to January 31, 2024.
The lot size for the IPO will be 1,200 shares per lot.
Mayank Cattle Food Ltd will be listed on the NSE Emerge on Monday, February 5, 2024.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange. The date of listing is Monday, February 5, 2024.
nitially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
