Maharashtra Oil Extractions files with SEBI for ₹370cr IPO
Maharashtra Oil Extractions just took the first step toward going public, filing papers with SEBI for an IPO comprising a fresh issue of shares worth ₹370 crore, along with an offer-for-sale by promoters.
The plan includes both fresh shares and a sale from promoters, and there's a chance they might raise up to ₹25 crore in a pre-IPO round before the main event.
Company earmarks proceeds for plant upgrades
Most of the funds are set aside for upgrading their processing plants in Nandurbar, Dhule, and Gangakhed, plus covering working capital needs.
The company runs four manufacturing facilities across Maharashtra focused on soybean crushing and oil refining.
For the year ended March 2026, their revenue grew 17.4%, though profits dipped slightly to ₹86.2 crore.
IDBI Capital Markets & Securities, Dolat Finserv, and Elara Capital (India) are managing the IPO process.