M.R. Maniveni Foods Ltd shares rose more than 4 percent after making a weak debut on the BSE SME platform on Monday, listing at an 18.2 percent discount to the issue price. The stock debuted at ₹42.55 per share on the BSE, compared with its IPO price of ₹52 per share. According to reports from Mint, after listing, buying interest emerged in the counter and the stock recovered part of its losses, touching a high of ₹44.66 per share, nearly 5 percent higher from its listing price. The listing was significantly below expectations as signalled by the grey market premium (GMP), which was nil, suggesting listing at no discount or premium.
The company's ₹27.04-crore initial public offering was priced in the range of ₹51-52 per share. As reported by Mint, the IPO was open for bidding from 22 May till 26 May and was subscribed 1.51 times at the end of the subscription period. The retail investors' portion was booked 2.06 times, while the non-institutional investor (NII) portion received 1.88 times bids. The SME IPO was entirely a fresh issue of 52 lakh equity shares, with no offer-for-sale component. The company plans to use the proceeds from the IPO for funding capex towards the construction of the factory, purchase of plant and machinery, and general corporate purposes.
Incorporated in 2010, M.R. Maniveni Foods is engaged in the processing, packaging and distribution of food products. According to Mint, the company focuses on offering quality, safe, and hygienically prepared food items catering to diverse consumer preferences. As of April 30, 2026, the company had a workforce of around 16 employees. The company primarily operates in the urad dal and toor dal segments and supplies its products mainly to business-to-business customers. The company focuses on quality control, modern processing techniques and supply chain management to maintain product consistency and food safety standards.
