Fri Dec 20 06:29:35 UTC 2024: ## Mamata Machinery IPO Oversubscribed on Day 1 and 2
**Mumbai, December 20, 2024** – The initial public offering (IPO) of Mamata Machinery Ltd., a manufacturer of packaging machinery, witnessed explosive demand on its first two days of trading. The IPO, entirely an offer-for-sale (OFS) aiming to raise ₹179.39 crore, was fully subscribed within minutes of opening on December 19th and continued to attract significant investor interest on Day 2.
By the end of Day 2, the IPO was oversubscribed by 20.33 times. Retail investors showed particularly strong enthusiasm, with their quota significantly oversubscribed. While the Qualified Institutional Buyers (QIBs) segment initially saw slower participation, it also saw increased interest as the day progressed. The grey market premium (GMP) remained high throughout the day, indicating strong investor confidence.
The IPO, priced between ₹230 and ₹243 per share, saw a GMP as high as ₹260 on the second day, suggesting a potential listing price significantly above the upper price band. The company will not receive any proceeds from the sale; all funds will go to the selling shareholders.
Mamata Machinery’s impressive customer list includes several notable companies in the food and packaging industries, further fueling investor interest. The company’s strong market position and anticipated growth in the automated packaging sector likely contributed to the high demand. The final allotment is expected on December 24th, with listing on the BSE and NSE anticipated shortly thereafter.
First Piper 