Mamata Machinery Debuts with 147% Premium

27 Dec 2024 , 10:55 AM

Today, the shares of Mamata Machinery made a spectacular debut on the stock exchanges. Mamata Machinery’s shares began at ₹600 each on the NSE and BSE today, up 146.91% from the ₹243 issue price. The stock reached a 5% upper circuit limit on the exchanges following an outstanding launch.

On the final day of Monday’s share sale, the packaging machinery producer Mamata Machinery Ltd.’s IPO received an outstanding subscription rate of 194.95 times. While the allotment for Qualified Institutional Buyers (QIBs) was subscribed to 235.88 times, the segment for Non-Institutional Investors saw an astounding 274.38 times.

The price range for each share in this ₹179-crore IPO is between ₹230 and ₹243. Mamata Machinery Ltd. declared on Wednesday that its anchor investors had contributed more than ₹53 crore. Mamata Machinery provides the packaging industry with comprehensive manufacturing solutions. The company offers a broad range of products that serve the whole flexible packaging market value chain, and it markets its equipment under the brand names “Vega” and “Win.”

An offer for sale (OFS) including a maximum of 7.38 million shares from promoters and existing shareholders makes up the entirety of the first public offering (IPO). The issue’s entire value, if priced at the maximum band, would be ₹179.39 crore.

The book running lead manager for the Mamata Machinery IPO is Beeline Capital Advisors Pvt Ltd.

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