M R Maniveni Foods IPO
FMCG • ₹27.04 Cr
High risk because:
- 5 material risk factors disclosed in DRHP
- High customer concentration flagged in the DRHP
- SME listing with thinner post-listing liquidity
IPOFins risk score from DRHP risk factors, subscription demand & issue structure
Price Band
₹52
Lot Size
2000 shares
Issue Size
₹27.04 Cr
Open
22 May 2026
Close
26 May 2026
Subscription
1.67×
IPO Schedule
| Issue Open Date | 22 May 2026 |
| Issue Close Date | 26 May 2026 |
| Listing Date | 31 May 2026 |
About M R Maniveni Foods
M R Maniveni Foods Limited is engaged in the milling, processing, and supply of pulses, primarily urad dal and toor dal. The company also trades in products such as moong dal, kabuli channa, green gram dal, coriander seeds, rice, and chillies. Its business mainly operates on a business-to-business (B2B) model, supplying processed pulses to retailers, wholesalers, and e-commerce platforms. The company started operations in 2010 with manual urad dal milling and later introduced automated machinery for urad dal processing in 2022. In 2023, it expanded into toor dal milling through a semi-manual process. At present, the company operates two milling facilities, including an automated unit for urad dal and a semi-manual unit for toor dal. It primarily generates revenue from the sale of urad dal and has a presence in Tamil Nadu, Karnataka, Kerala, Maharashtra, Telangana, and Madhya Pradesh.
Company Details
Founders / Promoters
Mr K.R. Manikandan
Founded
2010
Documents
DRHP / RHP Document (PDF)
View official prospectus →
Investment Analysis
M R Maniveni Foods — IPOFins Verdict
QuantitativeDriven by QIB demand at 1.0x and elevated disclosed risk (8/10), M R Maniveni Foods listed at a discount of 18.2% to its issue price. SME listings are also thinner and more volatile after listing. The signals look weak — weigh the risks carefully. This is a quantitative flag, not a recommendation.
- M R Maniveni Foods has been engaged in the pulses industry for more than 15 years, with operations focused on the milling, processing, and supply of urad dal and toor dal. Over the years, the company
- The company claims to have an automated urad dal milling facility and a semi-manual toor dal processing unit. This combination allows it to balance large-scale production efficiency with operational f
- The company primarily operates on a business-to-business (B2B) model, supplying products to supermarkets, wholesalers, and e-commerce platforms. In FY25, around 58% of its revenue was generated throug
- The company claims to source raw materials through a diversified procurement network that includes cooperatives, mandis, licensed traders, commission agents, and authorised importers. This sourcing st
- The company is certified for ISO/FSSC 22000 Food Safety Management Systems and has also received ZED Bronze and Silver certifications under the MSME Sustainable (ZED) Certification Scheme. It also hol
Score breakdown — what drove this verdict
High risk from DRHP → score -1.2
Institutional subscription → score 0
Actual listing outcome → score −1.5
SME IPOs have lower liquidity after listing → score −0.5
Base score: 5.0 · Final score = base + all factor adjustments, capped 1–10. Full methodology →
IPOFins Score is a quantitative signal from subscription demand, disclosed risk, and listing data — not investment advice. Not SEBI-registered.
Listing Performance
Issue Price
₹52
Listing Price
₹42.55
Listing Gain/Loss
-18.17%
Listing Date
31 May 2026
Price Since Listing
Returns are measured against the ₹52 issue price.
Listing
₹42.55
-18.2%
1 Week
₹39.33
-24.4%
1 Month
₹36.85
-29.1%
Current
₹31.85
-38.7%
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FAQ
What is the price band of M R Maniveni Foods IPO?
The price band is ₹52 per share with a lot size of 2000 shares. Minimum investment: ₹1,04,000.
What does M R Maniveni Foods do?
M R Maniveni Foods Limited is engaged in the milling, processing, and supply of pulses, primarily urad dal and toor dal. The company also trades in products such as moong dal, kabuli channa, green gram dal, coriander seeds, rice, and chillies. Its business mainly operates on a business-to-business (B2B) model, supplying processed pulses to retailers, wholesalers, and e-commerce platforms. The company started operations in 2010 with manual urad dal milling and later introduced automated machinery for urad dal processing in 2022. In 2023, it expanded into toor dal milling through a semi-manual process. At present, the company operates two milling facilities, including an automated unit for urad dal and a semi-manual unit for toor dal. It primarily generates revenue from the sale of urad dal and has a presence in Tamil Nadu, Karnataka, Kerala, Maharashtra, Telangana, and Madhya Pradesh.
Should I apply for M R Maniveni Foods IPO?
M R Maniveni Foods listed at ₹42.55 (-18.2% discount to the ₹52 issue price) after 1.7x subscription. IPOFins Score 2/10: Driven by QIB demand at 1.0x and elevated disclosed risk (8/10), M R Maniveni Foods listed at a discount of 18.2% to its issue price. SME listings are also thinner and more volatile after listing. The signals look weak — weigh the risks carefully. This is a quantitative flag, not a recommendation.
Who founded M R Maniveni Foods?
M R Maniveni Foods was founded by Mr K.R. Manikandan in 2010.