Fri Dec 20 07:43:08 UTC 2024: **Gujarat Packaging Firm Mamata Machinery’s IPO Overwhelmed by Demand**
**MUMBAI, Dec 15** – Mamata Machinery, a Gujarat-based manufacturer of packaging machinery, saw its initial public offering (IPO) massively oversubscribed on its first day. The ₹179.38 crore IPO, priced between ₹230 and ₹243 per share, received bids 16.48 times its size. The offer, which closes on December 23, is entirely an offer-for-sale (OFS) of 73.82 lakh equity shares by existing promoters and shareholders. The company itself will not receive any proceeds from the IPO.
Retail investors showed the strongest interest, subscribing 23.84 times their allotted portion. Non-institutional investors also displayed significant enthusiasm, with 18.87 times oversubscription. Even the qualified institutional buyer (QIB) portion saw 1.51 times oversubscription, while the employee share allocation was oversubscribed by a remarkable 28.70 times. Prior to the IPO launch, the company raised over ₹53 crore from anchor investors.
Mamata Machinery, which sells its machines under the ‘Vega’ and ‘Win’ brands, aims to enhance its brand visibility, improve shareholder liquidity, and establish a public market for its shares through the listing. The company’s equity 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 