Mon Dec 23 15:07:34 UTC 2024: **Mamata Machinery IPO Oversubscribed 195 Times**

**MUMBAI, INDIA – DECEMBER 24, 2024** – The initial public offering (IPO) of Mamata Machinery Limited, a leading Indian manufacturer and exporter of plastic packaging machinery, closed on Monday, December 23, significantly oversubscribed at 194.95 times. The ₹179.39 crore IPO, which consisted entirely of an offer for sale (OFS) of 0.74 crore shares priced between ₹230 and ₹243 per share, saw exceptionally strong demand across all investor categories.

Non-institutional investors (NIIs) oversubscribed their portion by 274.38 times, while qualified institutional buyers (QIBs) bid 235.88 times the available shares. Retail investors showed strong interest, subscribing 137.96 times, and employee bids reached 153.27 times their allocation.

Founded in 1979, Mamata Machinery holds a prominent position in the global flexible packaging market, estimated at $49 billion in 2023 and projected to grow at a 12.6% CAGR until 2027. The company boasts over 4,500 machines installed worldwide, serving major clients including Balaji Wafers, Chitale Foods, and Hershey India. Its strong financials, showing consistent revenue and profit growth over the past three years, further fueled investor enthusiasm.

While the company faces challenges such as reliance on specific raw materials and the need for skilled labor, its strong market position and growth prospects appear to have overshadowed these concerns for investors. The grey market premium (GMP) reached ₹260 on Monday, indicating a potential listing price significantly above the IPO price band.

Beeline Capital Advisors Private Limited acted as the book-running lead manager, and Link Intime India served as the registrar. The promoters, including the Patel family and associated entities, retain a 92.45% stake in the company post-IPO.

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