The issue opened for bidding on 11 November 2025 and it closed on 13 October 2025. The price band of the IPO was fixed between Rs 108 to Rs 114 per share. The equity shares will list on BSE’s SME platform.

The IPO comprised 61,78,800 equity shares, including a fresh issue of 56,38,800 equity shares and offer for sale (OFS) of 5,40,000 equity shares. The promoter and promoter group shareholding diluted to 56.35% from 77.27% pre-issue.

The company intends to utilize the net proceeds for purchase of equipment for existing formulation plant, funding capital expenditure towards setting up of a new technical manufacturing plant, construction of warehouse building and purchase of machinery, funding working capital requirement of the company and general corporate purposes.

Ahead of the IPO, Mahamaya Lifesciences on Monday, 10 November 2025, raised Rs 19.97 crore from anchor investors. The board allotted 17.52 lakh shares at Rs 114 each to 7 anchor investors.

Mahamaya Lifesciences specializes in the manufacturing of pesticide formulations and supplies bulk formulations to both Indian agrochemical companies and multinational corporations (MNCs). The company began its journey by focusing on the import and registration of vital pesticide molecules (technical grade) that were not produced domestically in India. These molecules were imported after extensive product research, and the company worked on obtaining their registrations with the Central Insecticides Board and Registration Committee (CIBRC) under the Department of Agriculture, Government of India. After successful registration, Mahamaya Lifesciences marketed these molecules both as technical products and as value-added end-use formulations for domestic manufacturers as well as MNCs. As of 30 September 2025, the company had 78 employees on its payroll.

The company recorded revenue from operations of Rs 83.01 crore and net profit of Rs 4.10 crore for the period ended 30 June 2025.