M R Maniveni Foods Ltd.
MRFOODSME
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Overview
M R Maniveni Foods Limited is a Chennai-based pulses processing company engaged in milling, processing and B2B supply of urad dal and toor dal, supported by limited trading in other grains and pulses. Incorporated in 2010, the company has evolved from manual operations to an automated urad dal unit and a semi-manual toor dal unit, supplying supermarkets, wholesalers and e-commerce platforms across multiple states. M R Maniveni Foods Limited combines sourcing relationships, in-house processing capabilities and quality-focused operations to deliver contamination-free, hygienically packed dal products, with revenue growing from 119.58 crores in FY2023 to 203.48 crores in FY2025.
Opening Date
May 22, 2026
Closing Date
May 26, 2026
Listing Date
Jun 01, 2026
IPO Type
SME
IPO Status
Closed
Issue Size
27.04 Cr
Fresh Issue
27.04 Cr
Offer for Sale
0 Cr
Price Band
₹51 - ₹52
Lot Size
2000
IPO Timeline
Financials
Revenue
Profit After Tax (PAT)
IPO Objective
The main objectives of the issue are to support manufacturing capacity expansion and strengthen the company’s operating platform.
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Funding capital expenditure for construction of a new factory at Karadiputhur, including site development, compound wall and factory building, to establish additional processing infrastructure for pulses manufacturing.
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Funding capital expenditure for purchase and installation of plant and machinery for a proposed fully automated toor dal processing facility, including core process machines, conveying systems, dryers, bins, steel structures, boiler systems and related infrastructure.
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Meeting general corporate purposes, including supporting business growth, operational requirements and corporate initiatives, within the regulatory cap prescribed for such usage.
Key Performance Indicator
P/E Ratio
18.11
EPS
2.87
ROE
16.48%
ROCE
12.58%
RONW
16.92%
Debt to Equity Ratio
—
PAT Margin
2.87%
EBITDA Margin
5.74%
P/B
3.49
SWOT Analysis
Strengths
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Established presence of over 15 years in pulses milling and processing with operational experience across sourcing, processing and distribution.
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Automated urad dal facility and dedicated toor dal unit provide a mix of scale, process consistency and operational flexibility.
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B2B-focused customer base includes supermarkets, wholesalers and e-commerce platforms, supporting recurring institutional demand.
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Revenue growth and expanding geographic reach across Tamil Nadu, Karnataka, Kerala and other states indicate growing market acceptance.
Weaknesses
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High revenue concentration in urad dal and toor dal limits diversification and increases dependence on a narrow product portfolio.
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Customer concentration is significant, with top customers contributing a large share of revenue across reported periods.
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Margins remain relatively modest for a food processing business, which may limit resilience against cost inflation and pricing pressure.
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The proposed expansion and deployment of issue proceeds have not been appraised by a bank or financial institution, increasing execution risk.
Opportunities
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Automation of the proposed toor dal plant can improve throughput, product consistency and cost efficiency for future scaling.
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Growing demand for packaged, hygienically processed staples and healthier food choices supports long-term demand for dal products.
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The company can deepen penetration through supermarket and e-commerce channels while expanding distribution into additional states.
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Future export opportunities in urad dal and toor dal could diversify revenue beyond the domestic market after demand and feasibility assessment.
Threats
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Volatility in raw material availability and pulse prices can affect procurement costs, margins and production planning.
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Intense competition from organized and unorganized players in the pulses and packaged food market may pressure pricing and market share.
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Regulatory changes in food safety, taxation, import-export rules or agricultural policy could disrupt operations or increase compliance costs.
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Dependence on a few large customers and institutional channels creates risk if any major buyer reduces orders or changes sourcing patterns.
Subscription Rate
Frequently Asked Questions about M R Maniveni Foods Ltd.
M R Maniveni Foods Limited is a Chennai-based pulses processing company engaged in milling, processing and B2B supply of urad dal and toor dal, supported by limited trading in other grains and pulses. Incorporated in 2010, the company has evolved from manual operations to an automated urad dal unit and a semi-manual toor dal unit, supplying supermarkets, wholesalers and e-commerce platforms across multiple states. M R Maniveni Foods Limited combines sourcing relationships, in-house processing capabilities and quality-focused operations to deliver contamination-free, hygienically packed dal products, with revenue growing from 119.58 crores in FY2023 to 203.48 crores in FY2025.
The M R Maniveni Foods Ltd. IPO is scheduled to open for subscription on May 22, 2026 and close on May 26, 2026. Investors can apply for shares during this period through eligible platforms.
The price band for the M R Maniveni Foods Ltd. IPO is ₹51 to ₹52. Investors can place bids within this range once the issue opens.
The minimum lot size for the M R Maniveni Foods Ltd. IPO is 2000 shares. The minimum investment amount ₹1,04,000.
The total issue size of the M R Maniveni Foods Ltd. IPO is approximately ₹27.04. Issue size represents the total value of shares offered to the public.
As per the latest available information, the M R Maniveni Foods Ltd. IPO has been subscribed 1.39 times. Subscription levels can change significantly during the offer period.
The Grey Market Premium (GMP) for the M R Maniveni Foods Ltd. IPO is not available as of now. GMP reflects unofficial market sentiment and should not be considered a guarantee of listing performance.
The shares of M R Maniveni Foods Ltd. are expected to list on stock exchanges on Jun 01, 2026, subject to completion of the allotment process and regulatory approvals.
The net proceeds from the M R Maniveni Foods Ltd. IPO are proposed to be used for The main objectives of the issue are to support manufacturing capacity expansion and strengthen the company’s operating platform., Funding capital expenditure for construction of a new factory at Karadiputhur, including site development, compound wall and factory building, to establish additional processing infrastructure for pulses manufacturing., Funding capital expenditure for purchase and installation of plant and machinery for a proposed fully automated toor dal processing facility, including core process machines, conveying systems, dryers, bins, steel structures, boiler systems and related infrastructure., Meeting general corporate purposes, including supporting business growth, operational requirements and corporate initiatives, within the regulatory cap prescribed for such usage.
Before applying for the M R Maniveni Foods Ltd. IPO, investors generally review the company’s business model, financial performance, valuation, industry outlook, and risk factors mentioned in the offer document.
