M R Maniveni Foods IPO limps to 65% on Day 1 with flat GMP, retail leads tepid demand
The dal-focused packaged foods player's ₹27.04 crore SME IPO at ₹51-52 band drew muted Day 1 interest at 65% overall subscription. Retail booked 68% and NIIs nudged past 1.03x, while QIBs sat at 31%. Grey market premium held flat at zero, signalling soft listing expectations for the small-cap food brand.
What happened
M.R. Maniveni Foods · M R Maniveni Foods, a dal-focused food products company, opened its ₹27.04 crore IPO at ₹51-52 price band. Day 1 saw 65% subscription with
Key facts
- price band ₹51-52
- issue size ₹27.04 crore
- day 1 subscription 65%
- retail 68%
- NII 1.03x
- QIB 31%
- GMP ₹0
Why this matters
A struggling subscription book on a sub-₹30 crore dal-focused issuer flags a potential consolidation target if listing disappoints—worth tracking post-listing float and promoter dilution as an inbound roll-up lane in regional packaged staples.