Mamata Machinery Limited made a stellar debut on the stock exchanges, with its shares listing at ₹600 apiece on both the NSE and BSE, marking a substantial premium of 146.91% over its IPO price of ₹243 per share.
Mamata Machinery IPO Subscription Status
The impressive listing comes after an overwhelming response to the company’s ₹179.39 crore Initial Public Offering (IPO), which was subscribed a staggering 194.95 times. The strong demand, driven largely by non-institutional investors, highlights significant market confidence in the Gujarat-based packaging machinery manufacturer. Post-listing, the company’s market capitalization stood at ₹1,476.47 crore, reflecting robust investor enthusiasm.
Mamata Machinery IPO GMP
The listing of Mamata Machinery shares exceeded expectations in the grey market. On the listing day, the company’s shares were trading at a grey market premium (GMP) of approximately 107% in the unofficial market.
Details About Mamata Machinery IPO
Mamata Machinery Limited, established in April 1979, specializes in manufacturing and exporting machinery for plastic bags, pouches, packaging, and extrusion, catering to industries like FMCG, Food, and Beverages with clients such as Balaji Wafers and Chitale Foods.
Operating in over 75 countries with facilities in India and the USA, the company has shown consistent growth. As of June 30, 2024, its financial metrics include ₹240.85 crore in assets, ₹29.19 crore in revenue, ₹0.22 crore in profit after tax, ₹132.82 crore in net worth, and ₹4.34 crore in total borrowings.
| Application Type | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 61 | ₹14,823 |
| Retail (Max) | 13 | 793 | ₹192,699 |
| S-HNI (Min) | 14 | 854 | ₹207,522 |
| S-HNI (Max) | 67 | 4,087 | ₹993,141 |
| B-HNI (Min) | 68 | 4,148 | ₹1,007,964 |
The IPO of Mamata Machinery Limited was priced in the range of ₹230-243 per share, with the final price set at the upper end. The offering was a complete Offer-for-Sale (OFS) of 73.82 lakh equity shares, amounting to ₹179.38 crore, allowing the promoters to monetize their holdings without raising fresh capital for the company. Serving industries like FMCG, Food, and Beverages, Mamata Machinery’s impressive client portfolio and operations across 75 countries have bolstered its market appeal, making the listing a significant milestone for the Gujarat-based manufacturer.