M R Maniveni Foods, a company specializing in urad and toor dal milling and processing, has reported a strong demand for its initial public offering (IPO), which was subscribed 1.36 times by May 25, the second day of bidding. The company is looking to raise ₹27 crore through the sale of 52 lakh shares, priced between ₹51 and ₹52 each. The IPO will remain open for subscription until May 26. Retail investors have shown significant interest, leading to a subscription rate of 1.53 times, while non-institutional investors and qualified institutional buyers subscribed at rates of 1.42 times and 100 percent, respectively. M R Maniveni Foods has already raised ₹7.64 crore by allocating 14.7 lakh shares to two anchor investors prior to the public offering. The funds raised will be allocated towards constructing a new factory and purchasing plant machinery, with ₹12.68 crore and ₹13.61 crore earmarked for these purposes, respectively. The company currently operates an automated milling facility in Madhavaram, Chennai, and plans to enhance its production capacity with a new fully automated processing plant for toor dhal.