Mon Dec 23 17:39:33 UTC 2024: **Gujarat Packaging Machinery Maker Mamata Machinery’s IPO Oversubscribed 195 Times**

**Ahmedabad, Dec 24:** Mamata Machinery Ltd., a Gujarat-based manufacturer of packaging machinery, saw its initial public offering (IPO) close on Monday with phenomenal success, exceeding expectations by a significant margin. The ₹179.39 crore IPO was oversubscribed a staggering 194.95 times, attracting bids for 100,94,81,375 shares against the 51,78,227 shares on offer.

Strong demand was seen across all investor categories. Retail investors subscribed 138.08 times, while non-institutional investors (NII) showed overwhelming interest with a 274.38 times subscription. Qualified institutional buyers (QIB) also participated heavily, subscribing 235.88 times.

The IPO, priced in a band of ₹230 to ₹243 per share, saw significant grey market premium with unlisted shares trading at ₹503, indicating a potential blockbuster listing on December 27th.

Analysts have expressed positive sentiment towards the company, citing its strong global presence, focus on high-demand sectors (FMCG, food, pharmaceuticals, e-commerce), and commitment to sustainable packaging solutions. Mehta Equities and Choice Brokerage, along with Bajaj Broking, all recommended subscribing to the IPO, highlighting the company’s growth potential and reasonable valuation.

The IPO was an offer-for-sale (OFS) of 73.82 lakh equity shares by promoters, meaning the company itself did not receive the proceeds. Anchor investors contributed ₹53.56 crore prior to the IPO. The company plans to use the listing to enhance its brand visibility, provide liquidity to existing shareholders, and establish a public market for its equity shares. The shares are set to list on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Friday, December 27th.

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