Thu Dec 19 16:42:20 UTC 2024: **Mamata Machinery IPO Oversubscribed within Hours**

**Mumbai, December 19, 2024** – The initial public offering (IPO) of Mamata Machinery Limited, a manufacturer of packaging machinery, was oversubscribed by 16.48 times within hours of opening today. The company received bids for 8.53 crore shares against the 51.78 lakh shares on offer. Strong investor interest was seen across all categories.

The IPO, priced in a band of ₹230-₹243, aims to raise ₹179 crore through an offer for sale (OFS) of 73.8 crore existing shares; the company itself will not receive any proceeds. The subscription period will close on December 23, with allotment finalized on December 24 and listing expected on December 27.

Category-wise subscription figures show significant demand: Qualified Institutional Buyers (QIBs) subscribed 1.51 times, while Non-Institutional Investors (NIIs) showed overwhelming interest with an 18.87 times oversubscription.

The grey market premium (GMP) for Mamata Machinery’s shares is currently at ₹200, suggesting a potential listing price of ₹443, representing a potential return of 82.30% for investors. However, investors are cautioned that GMP is highly speculative and subject to change.

Mamata Machinery supplies its plastic bag and pouch making machines, packaging machinery, and extrusion equipment to over 75 countries. Its clientele includes prominent names in the FMCG, food, and beverage sectors such as Balaji Wafers, Das Polymers, and others. A significant portion of its revenue comes from its wholly-owned subsidiary, Mamata Enterprises, which operates internationally. The company has international offices in Florida and Illinois, and sales agents in several other countries.

**Disclaimer:** *This information is for informational purposes only. Investment in the market is subject to risks. Always consult an expert before investing.*

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