Fri Dec 20 12:44:09 UTC 2024: ## Mamata Machinery IPO Oversubscribed by 37 Times on Day 2

**Mumbai, India (December 21, 2024)** – The initial public offering (IPO) of Mamata Machinery Ltd., a packaging machinery manufacturer, concluded its second day of bidding with overwhelming demand. The IPO, which opened on December 19th and closed on December 23rd, was oversubscribed a staggering 37.34 times.

Strong interest was seen across all investor categories. The retail investor segment was subscribed 50.55 times, Non-Institutional Investors (NIIs) 49.45 times, and Qualified Institutional Buyers (QIBs) 4.74 times. Employee participation was particularly high, with the quota subscribed 53.97 times.

The IPO, priced between ₹230 and ₹243 per share, aimed 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 be received by the selling shareholders.

Beeline Capital Advisors acted as the book-running lead manager, while Link Intime India served as the registrar. The company’s shares are expected to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) on December 27th.

Mamata Machinery, which boasts a price-to-earnings (P/E) ratio of 16.58, benefits from the growing flexible packaging market, projected to reach USD 60.8 billion by 2028. The company’s strong customer base and focus on innovation were highlighted as key strengths. The company’s promoter group currently holds 92.45% of the issued share capital. The high subscription level suggests strong investor confidence in Mamata Machinery’s future prospects.

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