Fri Dec 20 04:50:52 UTC 2024: ## Gujarat’s Mamata Machinery IPO Oversubscribed on Day 1
**MUMBAI, Dec 22** – Gujarat-based packaging machinery manufacturer Mamata Machinery saw its initial public offering (IPO) massively oversubscribed on its first day, exceeding expectations by a significant margin. The ₹179.38 crore IPO, priced at ₹230-243 per share, was subscribed 16.48 times by the close of day one. The offer, which closes on December 23, consists entirely of an offer-for-sale (OFS) of 73.82 lakh equity shares by existing promoters and investors. The company itself will not receive any proceeds from the IPO.
Retail investors demonstrated the most enthusiasm, subscribing 23.84 times their allocated portion. Non-institutional investors also showed strong interest, with a subscription rate of 18.87 times. Even the Qualified Institutional Buyer (QIB) portion saw healthy subscription at 1.51 times. The employee reservation portion was subscribed a remarkable 28.70 times.
Prior to the IPO launch, Mamata Machinery raised over ₹53 crore from anchor investors. The company, which manufactures packaging machinery under the brands ‘Vega’ and ‘Win’, aims to enhance its brand visibility, provide liquidity to shareholders, and establish a public market for its shares through the listing. The shares are expected to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on December 27. Beeline Capital Advisors acted as the sole book-running lead manager for the IPO.
First Piper 