MR Maniveni Foods shares are set to debut on the BSE SME platform today, Monday, following the completion of the IPO allotment process. According to The Economic Times, the company's ₹27 crore IPO was open for subscription between May 22 and May 26, while the basis of allotment was finalized on May 27. The shares are trading near their issue price in the grey market, with grey market premium (GMP) indicating a flat listing performance at ₹0%. The company's shares will be listed on BSE SME platform following the allotment process, with investors adopting a wait-and-watch approach despite the company's steady growth in revenue and profitability.
The company raised ₹27.04 crore from the book-building issue, which was entirely a fresh issue of 52 lakh equity shares. As reported by The Economic Times, the IPO price band was set at ₹51 to ₹52 per share, with the company fixing the issue price at ₹52 per share, the upper end of the price band. The public issue achieved 1.69 times subscription, with the Retail Individual Investors category booked at 2.09 times, Qualified Institutional Buyers at 1.00 times, and Non-Institutional Investors at 1.88 times. Capital Square Advisors served as the book running lead manager, while Bigshare Services acted as the IPO registrar. The registrar is responsible for the IPO allotment and refund process, with investors able to contact them for queries regarding the allotment date and time.
Ahead of the IPO opening, MR Maniveni Foods raised ₹7.64 crore from anchor investors through the allotment of 14.7 lakh shares, demonstrating strong institutional interest in the issue. According to The Economic Times, the flat GMP of ₹0% suggests that in the grey market, the stock is trading at its issue price of ₹52 per share. This indicates that investors are adopting a wait-and-watch approach toward the issue despite the company's steady growth in revenue and profitability. Grey market premiums are unofficial indicators of investor sentiment and do not guarantee actual listing performance.
MR Maniveni Foods Limited is a Chennai-based food processing company with over 15 years of experience in milling, processing, and supplying pulses. Incorporated in 2010, the company primarily specialises in urad dal and toor dal, and also trades in a broader range of products including moong dal, kabuli channa, green gram dal, coriander seeds, rice, and chillies. Operating under a B2B model, it supplies processed pulses to large-format retailers, wholesalers, and e-commerce platforms across India. The company emphasizes quality control, modern processing techniques and supply chain management to ensure product consistency and food safety standards. As of April 30, 2026, the company had a workforce of around 16 employees. For FY25, MR Maniveni Foods reported total income of ₹203.5 crore, compared with ₹155 crore in FY24. Profit after tax rose to ₹4.13 crore from ₹2.18 crore a year earlier. Tamil Nadu remains its largest market at 58% of revenues, with growing presence across Karnataka, Kerala, Maharashtra, and Madhya Pradesh.
The IPO proceeds are expected to support working capital requirements and general corporate purposes for the company's expansion plans. According to The Economic Times, Capital Square Financial Services is the market maker for the IPO, while Capital Square Advisors served as the book-running lead manager and Bigshare Services acted as the registrar. The company's shares will be listed on BSE SME platform following the allotment process, with the listing date scheduled for today, Monday, following the completion of the allotment process.
