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Mamata Machinery IPO GMP: Unlisted shares of Mamata Machinery are trading at Rs 443 in the grey market, reflecting a premium of Rs 200 (82.3%) over the upper price band of Rs 243, indicating stellar market debut.
Mamata Machinery IPO.
The IPO of Mamata Machinery Ltd, a Gujarat-based manufacturer of packaging machinery, opened on Thursday to an enthusiastic response. Within the first hour of bidding, the IPO was subscribed over two times. The price band for the offering is set between Rs 230 and Rs 243 per share.
By 10:50 am on the first day, the Rs 179.39 crore public issue garnered bids for 1.19 crore shares, significantly surpassing the 51.78 lakh shares on offer, resulting in a subscription rate of 2.31 times.
Category-Wise Subscription:
- Retail Investors: 3.68 times subscription
- Non-Institutional Investors (NII): 2.11 times subscription
Mamata Machinery IPO: Key Dates
- Closing Date: December 23 (Monday)
- Allotment Finalisation: December 24
- Listing on BSE and NSE: December 27 (Friday)
Mamata Machinery IPO GMP Signals Strong Listing
As per market analysts, the unlisted shares of Mamata Machinery are trading at Rs 443 in the grey market, reflecting a premium of Rs 200 (82.3%) over the upper price band of Rs 243. This indicates a potentially stellar listing on December 27.
About the IPO
The initial share sale is an offer-for-sale (OFS) of 73.82 lakh equity shares by the promoters, amounting to Rs 179.38 crore at the upper price band.
Promoters participating in the OFS include:
- Mahendra Patel
- Nayana Patel
- Bhagvati Patel
- Mamata Group Corporate Services LLP
- Mamata Management Services LLP
Since the IPO is an OFS, the company will not receive proceeds from the issue. Instead, the funds will go directly to the selling shareholders.
Objectives of the IPO
The company aims to leverage the equity share listing to:
- Enhance visibility and brand recognition
- Provide liquidity to existing shareholders
- Establish a public market for equity shares
At the upper price band, the company’s market capitalization is estimated at approximately Rs 600 crore.
Anchor Investors and Pre-IPO Details
Mamata Machinery raised Rs 53.56 crore from anchor investors prior to the IPO by allotting 22.04 lakh shares at Rs 243 apiece. The investors include:
- 3P India Equity Fund
- Authum Investment and Infrastructure
- Winro Commercial (India) Ltd
- Subhkam Ventures
- Chartered Finance and Leasing
- Belgrave Investment Fund
- Aarth AIF
About Mamata Machinery
The company provides end-to-end manufacturing solutions for the packaging industry, offering products under the brands ‘Vega’ and ‘Win.’ It serves the flexible packaging market across the entire value chain.
Issue Allocation
- 50% reserved for Qualified Institutional Buyers (QIBs)
- 35% for Retail Investors
- 15% for Non-Institutional Investors
Beeline Capital Advisors is the sole book-running lead manager for the issue. The equity shares will be listed on the BSE and NSE on December 27.
