Mahamaya Lifesciences Ltd. IPO Analysis
11 November 2025
Mahamaya Lifesciences Ltd. is entering the public markets with its SME IPO, offering investors a chance to participate in India’s fast-evolving pharmaceutical ecosystem.
Here’s a closer look at the company’s business fundamentals, financial performance, and valuation before you decide to invest.
The Mahamaya Lifesciences Ltd Share Price will be finalized post-allotment, while grey market cues through the Mahamaya Lifesciences Ltd IPO GMP will likely reflect market sentiment closer to listing.
Industry Overview
India is one of the world’s top five agrochemical producers, playing a key role in global crop protection. The industry has grown steadily, expanding from USD 814 million in 2019 to USD 1.34 billion in 2023, and is projected to rise at a 7.6% CAGR through 2029. India is a net exporter, with pesticide exports reaching ₹43,223 crore (approximately US $5.5 billion) in 2022-23, despite significant imports from China. The sector encompasses insecticides, herbicides, fungicides, and biopesticides, with herbicides accounting for the largest share of global demand. Growth is being driven by higher farm productivity, government support, and rising adoption of biopesticides, though reducing import dependence remains a key priority under the “Make in India” initiative.
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