Fri Dec 20 14:50:57 UTC 2024: ## Mamta Machinery IPO Oversubscribed 30 Times

**Mumbai, December 20, 2024** – The initial public offering (IPO) of Mamta Machinery has received an overwhelming response from investors, closing its second day of subscription with a staggering 30.59 times oversubscription. Retail Individual Investors (RIIs) showed the most enthusiasm, subscribing 43.15 times the allotted amount. Non-Institutional Investors (NIIs) subscribed 37.70 times, while Qualified Institutional Buyers (QIBs) subscribed 2.88 times. The employee quota also witnessed strong participation.

The IPO, which opened on December 19th, 2024, and is scheduled to close on December 23rd, 2024, offers 7,382,340 shares through an Offer for Sale (OFS) at a price band of ₹230-₹243 per share. The strong demand is reflected in the grey market, where shares are trading at ₹503, a premium of ₹260 over the upper end of the IPO price band – a 107% increase.

Several brokerage firms, including Anand Rathi Research and Bajaj Broking, have given positive reviews, recommending the IPO to investors. Share allotment is expected on December 24th, 2024, with shares credited to successful applicants’ demat accounts by December 26th, 2024. Listing on the BSE and NSE is scheduled for December 27th, 2024.

Mamta Machinery, established in 1979, specializes in designing and manufacturing machinery for the packaging industry, including machines for plastic bags and pouches, packaging machines, and extrusion equipment. Its products cater to the food, FMCG, and other sectors. The company’s strong product portfolio and global presence are cited as key factors contributing to investor interest. The minimum investment is ₹14,823 (61 shares), with a retail investor able to invest a maximum of ₹192,699 (793 shares).

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