Thu Dec 19 13:48:32 UTC 2024: ## Mamata Machinery IPO Oversubscribed on Day 1

**Mumbai, December 19:** The initial public offering (IPO) of packaging machinery manufacturer Mamata Machinery Ltd. saw explosive demand on its first day of trading, becoming fully subscribed within minutes of opening. The IPO, which offers 73.82 lakh equity shares at a price band of ₹230-₹243, aims to raise ₹179.39 crore through an offer-for-sale (OFS).

By the close of the day, the IPO was significantly oversubscribed at 16.48 times, with investors bidding for 8,53,22,530 shares against the 51,78,227 shares on offer. Retail investors showed the strongest interest, subscribing 23.84 times their allotted portion. Non-Institutional Investors (NIIs) subscribed 18.87 times, while Qualified Institutional Buyers (QIBs) subscribed 1.51 times.

The grey market premium (GMP) for Mamata Machinery shares remained strong throughout the day, reaching ₹200, indicating a potential listing price of ₹443 – a premium of 82.3% over the upper price band. Anand Rathi brokerage firm gave the IPO a “Subscribe” rating, citing a fair valuation compared to competitors. However, Mehta Equities noted the 100% OFS nature of the issue as a potential concern for some investors.

The IPO closes on December 23, with allotment expected on December 24. Listing on the BSE and NSE is anticipated on December 27.

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