Maharashtra Oil Extractions files draft IPO papers with SEBI to raise Rs 370 crore

Fresh updates from the financial markets indicate that Soya bean products maker Maharashtra Oil Extractions has filed draft papers with capital markets regulator SEBI to mobilize funds through an initial public offering (IPO), comprising a fresh offering of shares worth Rs 370 crore.

Promoters will additionally sell 2.14 crore equity shares through an offer-for-sale (OFS).

The firm may additionally consider raising up to Rs 25 crore in a pre-IPO round. If the pre-IPO placement is undertaken, the amount boosted will be reduced from the fresh offering component.

Maharashtra Oil Extractions produces food-grade soya meal products such as non-GMO defatted toasted and untoasted soya flakes and grits for domestic and international markets. These products are supplied to manufacturers of soya sauce, TSP (textured soya protein) and other food products. The firm additionally refines and sells cottonseed oil.

It primarily distributes edible soya bean oil and cottonseed oil in the domestic market under the Murli brand.

The firm proposes to utilise Rs 13.8 crore of the net fresh offering proceeds for upgrading its Nandurbar manufacturing facility and Rs 94 crore for capital expenditure at its Dhule manufacturing facility.

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Further, Rs 19.4 crore will be utilised for upgrading the Gangakhed manufacturing facility, while Rs 125 crore will be used for working capital requirements. The remaining amount will be used for general corporate purposes.

Maharashtra Oil Extractions at present owns four manufacturing facilities at Dhule, Nandurbar and Gangakhed in Maharashtra, with combined installed capacity for soya bean crushing and edible oil refining of 4,20,000 MTPA and 61,050 MTPA, respectively.

The firm, which competes with listed peers such as Gujarat Ambuja Exports, Manorama Industries and Shri Venkatesh Refineries, noted a consolidated earnings of Rs 86.2 crore for the year ended March 2026, down 1 percent from Rs 87.1 crore in the previous year, partly due to a weak operating margin.

Topline grew 17.4 percent to Rs 2,211.5 crore from Rs 1,883.3 crore during the same period. EBITDA (earnings before interest, tax, depreciation and amortisation) increased 5.1 percent to Rs 132.1 crore from Rs 125.7 crore, but the margin declined 70 basis points to 5.97 percent from 6.67 percent during the same period.

IDBI Capital Markets & Securities, Dolat Finserv and Elara Capital (India) have been appointed as the merchant bankers for the Maharashtra Oil Extractions IPO.