Mahamaya Lifesciences Ltd IPO

About Mahamaya Lifesciences Ltd

Our Company was originally incorporated as a private limited Company under the name of Mahamaya Life Sciences Private Limited under the provisions of the Companies Act, 1956 and certificate of incorporation was issued by the Assistant Registrar of Companies, NCT of Delhi & Haryana, on May 07, 2002. Further, our Company name was changed from Mahamaya Life Sciences Private Limited to Mahamaya Lifesciences Private Limited and a fresh certificate of Incorporation dated February 15, 2016 was issued by the Registrar of Companies, Delhi. Moreover, a special resolution was passed at the Extra-Ordinary General Meeting of our Company held on October 29, 2024 for conversion of our Company into a public limited Company and the name of our Company was changed from Mahamaya Lifesciences Private Limited to Mahamaya Lifesciences Limited. A fresh certificate of incorporation consequent to change of name was issued by the Registrar of Companies, Delhi on November 19, 2024. The Corporate Identity Number of our Company is U24233DL2002PLC115261.

India is among the top five global producers of agrochemicals, playing a vital role in crop protection. The industry has expanded rapidly, growing at a CAGR of 13.3% from USD 814 million in 2019 to USD 1,342 million in 2023, and is projected to grow at 7.6% CAGR from 2023 to 2029. Pesticide production grew at a CAGR of 4.5%, reaching 258 thousand tonnes in 2022-23. India is a net exporter of pesticides, with exports increasing at a CAGR of 8.1% from 2018-19 to 2022-23, surpassing domestic consumption. The total export value reached Rs.43,223 crore (US$ 5.50 billion) in 2022-23. Despite strong exports, India imports pesticides, primarily from China, which accounted for 51.97% of total imports in 2022-23. The agrochemical sector includes insecticides, herbicides, fungicides, and biopesticides, with herbicides dominating global crop protection. Due to advanced formulations, India's chemical pesticide consumption declined at a CAGR of 3.2% from 2018-19 to 2022-23. Industry growth is driven by rising agricultural output, population growth, government initiatives, and increased awareness of biopesticides. Government support includes organic farming promotion and financial aid for farmers. With increasing global demand and the Make in India push, the industry is set for continued expansion. Strengthening domestic production and reducing import dependence remain key priorities for India's agrochemical sector.

Our company specializes in the manufacturing of pesticide formulations and supply bulk formulations catering to both Indian agrochemical companies, as well as multinational corporations (MNCs). We began our journey by focusing on import and registration of vital pesticide molecules (Technical) that were not produced domestically in India. We imported these molecules after lot of product research and worked on registering them with the Central Insecticides Board and Registration Committee (CIBRC) under the Department of Agriculture, Government of India. After successful registration we marketed these molecules both as technical and as value added end use formulations for both domestic manufacturers and MNCs.

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