Weak debut! M.R.Maniveni Foods share price lists at 18% discount to IPO price on BSE SME
M.R.Maniveni Foods share price listed at ₹42.55, down ₹9.45 or 18.17% compared with the offer price of ₹52. Soon after listing, however, the SME stock recovered a bit. It touched the day's peak of ₹44.66, rising almost 5% from the listing price but remained below its offer price.
M.R.Maniveni Foods IPO listing: Shares of M.R.Maniveni Foods made a disappointing debut on the BSE SME platform on Monday, 1 June, listing at an over 18% discount to the initial public offering (IPO) price.
M.R.Maniveni Foods share price listed at ₹42.55, down ₹9.45 or 18.17% compared with the offer price of ₹52. Soon after listing, however, the SME stock recovered a bit. It touched the day's peak of ₹44.66, rising almost 5% from the listing price but remained below its offer price.
The listing was significantly below expectations as signalled by the grey market premium (GMP). M.R.Maniveni Foods IPO GMP was nil, suggesting listing at no discount or premium.
M.R.Maniveni Foods IPO details
M.R.Maniveni Foods IPO was open for bidding from 22 May till 26 May. The company was looking to raise ₹27 crore via the share sale. The offer 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 offer price band was set at ₹51 to ₹52.
The SME IPO was entirely a fresh issue of 0.52 crore shares, meaning that all proceeds raised will go to the company. The company plans to use the proceeds from the IPO for funding capex towards the construction of the factory, purchase of the plant and machinery and general corporate purposes.
Investors could apply for the offer in lots of 2,000 shares. A retail investor needed to apply for at least two lots, resulting in a payout of ₹2,08,000 at the upper end of the issue. The allotment for M.R.Maniveni Foods IPO was finalised on 27 May.
Capital Square Advisors acted as the book-running lead manager, and Bigshare Services is the registrar of the issue.
M.R.Maniveni Foods is engaged in the business of processing, packaging, and distribution of food products. The company focuses on offering quality, safe, and hygienically prepared food items catering to diverse consumer preferences.
Disclaimer: This story is for educational purposes only. We advise investors to check with certified experts before making any investment decisions.
About the Author
Saloni Goel has over nine years of experience as a business journalist, with a strong track record of covering the financial markets. Over the course of her career, she has reported extensively on global and domestic equities, IPO market activity, commodities, and broader macroeconomic trends. Her reporting reflects a keen eye for detail, data-driven analysis, and the ability to spot emerging themes early.<br> At Mint, Saloni has been part of the markets team for nearly two years, where she currently works as Chief Content Producer. In this role, she plays a key part in shaping market coverage, driving editorial strategy, and ensuring timely, accurate, and insightful reporting across. She has been closely involved in breaking news coverage and in crafting stories that help decode the complex financial developments.<br> Before joining Mint, Saloni worked with some of India’s leading business newsrooms, including The Economic Times and Business Standard. Throughout her career, she has worn multiple hats—ranging from reporting and editing to contributing in-depth features and identifying new storytelling formats and market trends.<br> Her experience in fast-paced digital newsrooms has given her an edge in simplifying complex market concepts without losing analytical depth. Outside of work, Saloni enjoys reading books and spending time with her pet.
Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
Wait for it…
Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.