Fri Dec 20 15:13:42 UTC 2024: **Mamata Machinery IPO Oversubscribed on Day 2**

**Mumbai, Dec 20, 2024** – The initial public offering (IPO) of packaging machinery manufacturer Mamata Machinery Ltd. continued its strong performance on the second day of bidding, achieving an impressive overall subscription of 37.34 times. The IPO, which opened on December 19th and closes on December 23rd, saw significant demand across all investor categories.

Retail investors showed the most enthusiasm, with the retail portion oversubscribed by 50.55 times. Non-institutional investors (NIIs) subscribed 49.45 times, while the qualified institutional buyer (QIB) segment saw a 4.74 times subscription. The employee quota was also heavily subscribed, reaching 53.97 times oversubscription.

The IPO, priced between ₹230 and ₹243 per share, aims to raise ₹179.39 crore through an offer-for-sale (OFS) of 73.82 lakh equity shares. No proceeds will go to the company itself; all funds will go to the selling shareholders. The shares are expected to list on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) on December 27th.

Despite fluctuating subscription figures reported throughout the day, the final numbers demonstrate exceptionally strong investor interest in Mamata Machinery. The company’s strong performance is attributed to several factors, including its position in the growing flexible packaging market and its established customer base, which includes notable names like Balaji Wafers and Hershey India. The company’s plans to diversify its customer base and innovate across product categories were also highlighted.

Beeline Capital Advisors is the book-running lead manager, and Link Intime India is the registrar for the IPO. The promoters hold a significant 92.45% stake in the company.

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