Mayank Cattle Food Ltd Share Price – BSE

FMCG, Small Cap

The scrip was listed at Rs 116, a premium of 7.41% compared with the initial public offer (IPO) price. The stock is currently trading 0.47% higher over its listing price.

The counter hit a high of Rs 121 and a low of Rs 116. About 7.58 lakh shares of the company changed hands at the counter.

Mayank Cattle Food's IPO was subscribed 8.44 times. The issue opened for bidding on 29 January 2024 and it closed on 31 January 2024. The price of the IPO was fixed at Rs 108 per share.

The IPO comprised fresh issue of 18,00,000 shares. The promoter and promoter shareholding diluted to 65% from 97.50% pre-IPO.

The company intends to utilize the net proceeds for funding capital expenditure towards the purchase of additional plant and machinery, to meet the working capital requirements, to meet the issue expenses and for general corporate purposes.

Mayank Cattle Food is engaged in manufacturing of maize cake & maize oil (non-edible). The business process involves purchase of the maize germ, then mechanized expelling, packaging and selling of the maize oil and maize cake. At present, the company has a production capacity of 22,896 MT per annum of maize oil and 45,792 MT per annum of maize cake. During the financial year 2023-24, firm has expanded installed capacity from 18,126 MT per annum to 22,896 MT per annum of maize oil and 36,252 MT per annum to 45,792 MT per annum of maize cake. The company has 120 employees.

The company recorded revenue from operations of Rs 75.08 crore and net profit of Rs 0.57 crore for the period as on 31 July 2023.

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