Sat Dec 21 01:41:12 UTC 2024: ## Mamata Machinery IPO Oversubscribed on Day 2

**Mumbai, India** – The initial public offering (IPO) of Mamata Machinery Limited, a packaging machinery manufacturer, received an overwhelming response from investors on the second day of bidding. The IPO was oversubscribed by 37.75 times, driven largely by retail investor participation.

According to data from the National Stock Exchange (NSE), bids for 19,54,62,727 shares were received against the offered 51,78,227 shares. Retail Individual Investors (RIIs) alone oversubscribed the IPO by 51.03 times, while the non-institutional investor category saw 50.23 times oversubscription. Qualified Institutional Buyers (QIBs) subscribed 4.74 times.

The ₹179 crore IPO, priced in the range of ₹230-₹243 per share, remains open for public subscription until December 23rd. Mamata Machinery had previously announced raising over ₹53 crore from anchor investors. The Gujarat-based company’s IPO is entirely an offer for sale (OFS) of 73.82 lakh equity shares by promoters, valued at ₹179.38 crore at the upper end of the price band. The proceeds from the sale will go entirely to the selling shareholders, not the company.

The company aims to leverage the listing to enhance brand visibility, improve shareholder liquidity, and establish a public market for its equity shares. Mamata Machinery provides end-to-end manufacturing solutions for the packaging industry, selling its machines under the ‘Vega’ and ‘Vin’ brand names. Beline Capital Advisors is the sole book-running lead manager for the issue. The equity shares will be listed on both the BSE and NSE. The grey market premium (GMP) for the Mamata Machinery IPO is currently ₹250, suggesting a potential listing price significantly above the offer price.

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