Mamata Machinery IPO Day 1: Key Highlights, Subscription Status, and Insights
Mamata Machinery’s initial public offer (IPO) witnessed robust demand on Day 1, resulting in the issue sailing through with ease. The issue opened for subscription on December 19, 2024, and was subscribed 16.61 times, with non-institutional and retail investors showing strong interest in the issue.
Mamata Machinery IPO: Issue Details
Mamata Machinery’s IPO is a ₹179.39 crore book-built issue. The IPO will not result in the issuance of any fresh equity shares and consists entirely of an offer-for-sale component for 0.74 crore shares. The subscription period of the issue opened on December 19, 2024, and is scheduled to conclude on December 23, 2024. Following the subscription period, the company will finalise the basis of allotment of shares on December 24, 2024. Shares of the company will tentatively be listed on the stock exchange on December 27, 2024.
Mamata Machinery IPO: Subscription Details
(December 19, 2024, End of the Day.)
Mamata Machinery’s IPO got off on a strong foot, with the issue being fully subscribed on the first day. Demand for the issue was mainly driven by retail investors and non-institutional investors.
On Day 1, the qualified institutional buyers (QIBs) portion was subscribed by 1.51 times. The portion for non-institutional investors (NIIs) was booked 18.93 times.
The retail investor portion was subscribed 24.08 times. The portion reserved for the company’s employees was subscribed 28.96 times.
The issue was subscribed 16.61 times with bids for 8.60 crore shares against 51.78 lakh shares on offer.
Mamata Machinery announced on December 18, 2024, that it had successfully raised ₹53.56 crores from anchor investors.
Mamata Machinery IPO: Price Band and Lot Size
The lot size for the Mamata Machinery IPO is 61 shares. The price band for the IPO Is set at ₹230 to ₹243 per share. To apply to the Mamata Machinery IPO, an investor will need to make a minimum investment of ₹14,823. The minimum lot size for small non-institutional investors and big non-institutional investors has been set at 14 lots and 68 lots, respectively.
About Mamata Machinery
Mamata Machinery is involved in the manufacturing and export of machines for packaging, plastic bags, pouches, and extrusion material. The company was founded in 1979 and provides packaging manufacturing solutions to the FMCG and Food & Beverage industry. The company has worked with several companies and has exported its machinery to over 75 countries.
Further, the company has two manufacturing facilities located in India and the USA.
Since the Mamata Machinery IPO consists only of an offer-for-sale component, the proceeds from the IPO will go to the selling shareholders. Promoters of the company include Mahendra Patel, Chandrakant Patel, Nayana Patel, Bhagvati Patel, Mamata Group Corporate Services, and Mamata Management Services. Before the issue, the promoter group’s shareholding stood at 92.45%.
For the quarter that ended June 30, 2024, Mamata Machinery reported a net profit of ₹22 lakh on revenue of ₹29.19 crore.