Mon Dec 23 16:48:05 UTC 2024: **Mamata Machinery IPO Oversubscribed by 195 Times**

**Mumbai, December 24, 2023** – The initial public offering (IPO) of Mamata Machinery, a Gujarat-based manufacturer of packaging machines, closed on Monday, December 23, after receiving an overwhelming response. The ₹179.39 crore IPO was oversubscribed by approximately 195 times, with bids for 100,94,81,802 shares against the offered 51,78,227 shares.

The strong demand was evident across all investor categories. Non-institutional investors oversubscribed their portion by 274.38 times, qualified institutional buyers by 235.88 times, and retail individual investors by 138.08 times. The IPO was priced in the range of ₹230-₹243 per share.

The IPO consisted entirely of an offer for sale (OFS) by promoters, meaning Mamata Machinery itself did not receive any funds. Promoters offered 73.82 lakh equity shares. The company had already raised over ₹53 crore from anchor investors earlier this week.

According to Investorgain.com, the IPO is trading at a premium of ₹260 in the grey market, suggesting a potential listing price of ₹503, a 107% premium. Mamata Machinery’s shares are expected to list on the BSE and NSE on December 27. The company provides manufacturing solutions for the packaging industry under the ‘Vega’ and ‘Win’ brand names.

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