M R Maniveni Foods IPO
M R Maniveni Foods LtdSME
This IPO has listed.
- Open date
- 22 May 2026
- Close date
- 26 May 2026
- Min. Investment
- ₹2,08,000
- Lot Size
- -
- Fresh Issue
- ₹27.04 Cr
- Price Range
- -
- Face Value
- -
- IPO Document
- -
Subscription rate
- Qualified Institutional Buyers1.00x
- Non-Institutional Investors1.66x
- Retail-Individual Investors2.09x
- Total1.69x
Schedule
- Completed: IPO open date22 May 2026
- Completed: IPO close date26 May 2026
- Completed: Allotment date27 May 2026
- Completed: Funds unblock or debit29 May 2026
- Completed: Tentative listing date1 Jun 2026
About
Promoter shareholding in M R Maniveni Foods Ltd, before and after the issue.
| Promoter | Pre-issue shares | Pre-issue % | Post-issue shares | Post-issue % |
|---|---|---|---|---|
| K R Manikandan | 46,84,400 | 32.59% | 46,84,400 | 23.93% |
| M Chandra | 72,30,000 | 50.31% | 72,30,000 | 36.94% |
| K Selvam | 22,68,000 | 15.78% | 22,68,000 | 11.59% |
M R Maniveni Foods IPO Strengths & Risks
- Company has a well-recognized Brand strength and market position.
- Company is reputed for providing high quality Dhal.
- Company is well-equipped with fully automated machinery & modern technology.
- Company adheres to food safety standards- FSSAI, ISO-22000, ZED-Bronze under MSME Scheme.
- Strong procurement & distribution network.
- Prospective business plans.
- Risks Relating to the Business: The Company had received share application money in cash for certain past allotments, for which bank statements are not available, and any non-compliance or regulatory action in this regard may adversely affect the Company.
- Risks Relating to the Business: The company has long-standing relationships with its suppliers. However, the company has not entered into any long-term contracts with suppliers for its black gram and raw pigeon pea and an increase in the cost or a shortfall in the availability of such black gram and raw pigeon pea or the company inability to leverage existing or new relationships with its suppliers could has an adverse effect on the company business and results of operations.
- Risks Relating to the Business: The company has long-standing relationships with its customers. However, the Company, in the usual course of business does not is any long-term contracts with its customers and the company relies on purchase orders for delivery of its products. Any cancellation, modification, and postponement of its orders could materially harm the company cash flow position, revenues and earnings.
- Risks Relating to the Business: The company has obtained the Consent to Establish ("CTE") for our proposed fully automated Toor Dal processing plant. Any delay in obtaining subsequent consents, Consent to Operates ("CTO"), or failures to comply with applicable environmental and regulatory conditions approval which may adversely affect its operations, expansion plans, and financial performance.
- Risks Relating to the Business: The company is highly dependent on its existing milling facility located in Thiruvallur, Tamil Nadu, and any slowdown, interruption, shutdown or under-utilization of this facility may adversely affect the company business, financial condition and results of operations.
- Risks Relating to the Business: The company is significantly dependent on the sale of Toor Dal and Urad Dal, and any decline in demand for these products could adversely impact its business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: In the past, there has been discrepancies in filings with the Registrar of Companies (RoC) and other non-compliances under the Companies Act, which may result in penalties.
- Risks Relating to the Business: The company operations is highly dependent on the uninterrupted supply of black gram and raw pigeon pea, primarily Toor dal and Urad dal. Any shortage, delay, disruption in supply, or significant volatility in their prices may materially and adversely affect its manufacturing operations, profitability, working capital requirements, and overall financial condition.
- Risks Relating to the Business: The company has experienced negative cash flows in the past. Any negative cash flows in the future would adversely affect its cash flow requirements, which may adversely affect the company ability to operates its business and implement the company growth plans, thereby affecting its financial condition.
- Risks Relating to the Business: There has been instances of delayed filings in the past with certain Regulatory Authorities. If the Regulatory Authorities impose any monitory penalties on its or take any punitive actions against the Company in relation to the same, its business, financial condition and results of operations could be adversely affected.
- Risks Relating to the Business: The Company, Promoters, Directors, KMPs and SMP are party to certain legal proceedings via Criminal, Civil and Tax Proceedings which is currently pending at various stage. Any adverse decision in these proceedings may render its liable to various penalties and/or monetary compensation and may adversely affect the company business and results of operations.
- Risks Relating to the Business: The company insurance coverage could prove inadequate to satisfy potential claims or protect its from potential operational hazards and losses which may has a material adverse effect on the company business, results of operations and financial condition.
- Risks Relating to the Business: The company sales is significantly concentrated in Tamil Nadu and Karnataka, and any adverse developments in these regions may affect its business, financial condition, results of operations, and cash flows.
- Risks Relating to the Business: Any non-compliance by the Company with changes in, safety, health and environmental legislations and other applicable laws, may adversely affect the company business, results of operations and financial condition.
- Risks Relating to the Business: The company business operations requires significant working capital, and any inability to meet its working capital requirements may affect the company business, financial condition, cash flows, and results of operations.
- Risks Relating to the Business: Any delay in the collection of the company dues and receivables from its clients may has a material and adverse effect on the company results of operations and cash flows.
- Risks Relating to the Business: Change in Land Use from Agricultural to Non-Agricultural.
- Risks Relating to the Business: The company operates in a single business segment i.e. food, and any adverse developments in this segment could has a material adverse effect on its business, financial condition, and results of operations.
- Risks Relating to the Business: The company may be unable to effectively manage its growth or implement the company growth strategies, which could materially and adversely affect its business, results of operations, financial condition and cash flows.
- Risks Relating to the Business: The Company has not placed orders of plant & machinery for its proposed object as specified in the Objects of the Issue. Any delay in placing orders, procurement of plant & machinery may delay its implementation schedule and may also lead to increase in price of these plant & machinery and equipment's, further affecting the company revenue and profitability.
- Risks Relating to the Business: The company operations is exposed to risks related to product quality, contamination, and non-compliance with applicable food safety standards, which may adversely affect its reputation, business operations, and financial performance.
- Risks Relating to the Business: The company inability to meet the working capital requirements during the peak season for procuring black gram and raw pigeon pea may has an adverse effect on the company results of operations and overall business. Further, non-availability and cost of raw black gram and raw pigeon pea could adversely affect its growth plans and business.
- Risks Relating to the Business: The company is subject to restrictive covenants under its financing agreements that could limit the company flexibility in managing its business or to use bank balance or other assets. Any defaults may adversely affect the company cash flows, business, results of operations and financial condition.
- Risks Relating to the Business: The company logo M R GOLD ORID GOTA registration status is currently under process. Failures to obtain the trademark registration could lead to difficulties in identification or mistaken association if the trademark is not officially registered under its name. This could potentially result in brand confusion, loss of market recognition, and legal challenges regarding the use of the company logo.
- Risks Relating to the Business: The company may not be able to prevent unauthorised use of its trademarks or similar brand identifiers by third parties, which may affect the company goodwill, market share, and ability to protect its intellectual property.
- Risks Relating to the Business: The company operates in a competitive and fragmented industry, and any inability to maintain its competitive position may affect the company business, prospects, and financial performance.
- Risks Relating to the Business: Extreme or sudden climate conditions or changes may affect the availability of raw materials and, in turn, the company business operations and profitability.
- Risks Relating to the Business: The company is dependent upon the experience and skill of its Promoters and Key Managerial Personnel for conducting the company business and undertaking its day to day operations. The company may not be able to recruit or retain key management and plant operating personnel, such persons could affect its business and operations.
- Risks Relating to the Business: The company derives a significant portion of its purchases from top 10 (Ten) suppliers, and any disruption in the availability of materials, adverse changes in commercial terms, or loss of any of its key suppliers may adversely affect the company business operations, financial condition, cash flows, and results of operations.
- Risks Relating to the Business: The company Promoters and members of the Promoter Group is associated with other entities, and although there is presently no common business pursuit or competing activity with its Company, any future conflict of interest, overlap in business activities, or diversion of business opportunities may adversely affect the company business, financial condition, reputation, and results of operations.
- Risks Relating to the Business: Regulatory Compliance, Past Filing Delays, and Financial Exposure to Penalties.
- Risks Relating to the Business: Geopolitical Risks and Global Uncertainty.
- Risks Relating to the Business: The company inability to accurately forecast demand for its products and manage the company inventory levels may adversely affect its business, financial condition, cash flows, and results of operations.
- Risks Relating to the Business: The company may be subject to industrial unrest and increased employee costs, which may adversely affect its business and results of operations.
- Risks Relating to the Business: The company has not yet received the Permanent Account Number (PAN) and Aadhaar details for certain members of the promoter group.
- Risks Relating to the Business: The Company has in the past entered into related party transactions and may continue to does so in the future. There can be no assurance that such transactions, individually or in the aggregate, will not has an adverse effect on the Company's financial condition and results of operations.
- Risks Relating to the Business: Any variation in the utilization of the Net Proceeds as disclosed in this Red Herring Prospectus shall be subject to certain compliance requirements, including prior Shareholders' approval.
- Risks Relating to the Business: The company funding requirements and the proposed deployment of Net Proceeds has not been appraised by any bank or financial institution or any other independent agency and its management will has broad discretion over the use of the Net Proceeds.
- Risks Relating to the Business: The Company is exposed to counterparty credit risk and any delay in receiving payments or non-receipt of payments may adversely impact business, financial condition, cash flows and results of operations.
- Risks Relating to the Business: Promoters and Directors hold Equity Shares in Company and is therefore interested in Company's performance in addition to their remuneration and reimbursement of expenses.
- Risks Relating to the Business: The company Promoters and members of its Promoter Group will be able to exercise significant influence and control over its after the Issue and may has interests that is different from or conflict with those of the company other shareholders.
- Risks Relating to the Business: The company could incur losses under its purchase orders with the company customers or be subjected to disputes or contractual penalties as a result of delays in delivery or failures to meet product specifications or delivery schedules, which may has a material adverse effect on its business, results of operations, cash flows, and financial condition.
- Risks Relating to the Business: The company is dependent on third parties for the supply of utilities such as electricity, water, and fuel, and any disruption in the supply of such utilities could adversely affect its dal processing operations.
- Risks Relating to the Business: Any adverse change in regulations governing the company products, may adversely impact its business prospects and results of operations.
- Risks Relating to the Business: The company operations at its Thiruvallur, Tamil Nadu Facility could be adversely affected by strikes, work stoppages or increased wages demands by the company employees or any other kind of disputes with its employees.
- Risks Relating to the Business: The Issue Price, market capitalization to total revenue multiple and price to earnings ratio based on the Issue Price of the Company, may not be indicative of the market price of the Equity Shares on listing or thereafter.
- Risks Relating to the Business: The company employees may engage in misconduct or other improper activities, including non-compliance with regulatory standards and processing requirements, which could adversely affect its business, results of operations, cash flows, and financial condition.
- Risks Relating to the Business: The company lenders has charge over its movable and immovable properties in respect of finance availed by the company.
- Risks Relating to the Business: There is an excessive dependence on a few lenders in respect of loan facilities obtained by the Company.
- Risks Relating to the Business: If the company fail to maintain an effective system of internal controls, its may not be able to successfully manage or accurately report the company financial risk.
- Risks Relating to the Business: The average cost of acquisition of Equity Shares held by the company Promoters could be lower than the Issue Price.
- Risks Relating to the Business: Pricing pressure from customers may affect the company gross margin, profitability and ability to increase its prices.
- Risks Relating to the Business: The Company has not paid any dividends in the past and its may not be able to pay dividends in the future.
- Risks Relating to the Business: The Company's future funding requirements, in the form of further issue of capital or other securities and/or loans taken by its, may turn out to be prejudicial to the interest of the shareholders depending upon the terms and conditions on which they is raised.
- Risks Relating to the Business: Certain data mentioned in this Red Herring Prospectus has not been independently verified.
- Risks Relating to the Business: The company has not made any alternate arrangements in order to meet its capital requirements for the Objects of the Issue.
- Risks Relating to the Business: Ability to access capital at attractive costs depends on credit ratings. Non-availability of credit ratings or a poor rating may restrict access to capital and thereby adversely affect business, financial conditions, cash flows and results of operations.
- Risks Relating to the Business: The requirements of being a public listed company may strain its resources and imposes additional requirements.
- Risks Relating to the Business: There is no guarantee that the company Equity Shares will be listed on the SME Platform of BSE Limited in a timely manner or at all. In accordance with Indian law and practice, permission for listing and trading of the company Equity Shares will not be granted until after certain actions has been completed in relation to this Issue and until Allotment of Equity Shares pursuant to this Issue. In accordance with current regulations and circulars issued of SEBI, its Equity Shares are required to be listed on the SME Platform of BSE Limited within such time as mandated under UPI Circulars, subject to any change in the prescribed timeline in this regard. However, the company cannot assure you that the trading in its Equity Shares will commence in a timely manner or at all. Any failures or delay in obtaining final listing and trading approvals may restrict your ability to dispose of your Equity Shares.
- Risks Relating to the Business: The company ability to pay dividends in the future will depends upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in the company financing arrangements.
- Risks Relating to the Business: The company management will has broad discretion in how its apply the Net Proceeds, including interim use of the Net Proceeds, and there is no assurance that the objects of the Issue will be achieved within the time frame expected or at all, or that the deployment of the Net Proceeds in the manner intended by its will result in any increase in the value of your investment.
- Risks Relating to the Business: The company Promoters, Directors including Independent Directors, does not has any prior experience of directorship in the listed company.
- Risks Relating to the Business: The deployment of funds raised through this Issue shall not be subject to any Monitoring Agency and shall be purely dependent on the discretion of the management of the Company.
- Risks Relating to the Business: The company may requires further equity issuance, which will lead to dilution of equity and may affect the market price of its Equity Shares or additional funds through incurring debt to satisfy its capital needs, which the company may not be able to procure and any future equity offerings by its.
- Risks Relating to the Business: Increased losses dues to fraud, employee negligence, theft or similar incidents may has an adverse impact on its.
- Risks Relating to the Business: Rights of shareholders under Indian law may be more limited than under the laws of other jurisdictions.
- Risks Relating to the Business: The company Equity Shares is quoted in Indian Rupees in India, and therefore investors may be subject to potential losses arising out of exchange rate risk on the Indian Rupee and risks associated with the conversion of Indian Rupee proceeds into foreign currency.
- Risks Relating to the Business: Applicants to this Issue is not allowed to withdraw their Applications after the Issue Closing Date.
- Risks Relating to the Business: The company is subject to governmental regulation, and its may incur material liabilities under, or costs in order to comply with, existing or future laws and regulation, and the company failures to comply may result in enforcements, recalls, and other adverse actions.
- Risks Relating to the Business: After this Issue, the price of the company Equity Shares may be volatile, or an active trading market for its Equity Shares may not be sustained.
- Risks Relating to the Business: There is restrictions on daily movements in the price of the Equity Shares, which may adversely affect a shareholder's ability to sell, or the price at which it can sell, Equity Shares at a particular point in time.
- Risks Relating to the Business: You may be subject to Indian taxes arising out of capital gains on sale of Equity Shares.
- Risks Relating to the Business: The investors may not be able to sell immediately on an Indian stock exchange any of the Equity Shares they acquires in the Issue, incase of delay in receipt of Listing and Trading approval.
