Tue Dec 24 07:40:00 UTC 2024: **Mamata Machinery IPO Overwhelmingly Subscribed, Listing Expected Friday**

MUMBAI, INDIA – Mamata Machinery’s initial public offering (IPO) has been massively oversubscribed, closing with a total of ₹179.39 crore raised. The three-day bidding period (December 19-23) saw the issue oversubscribed by a whopping 194.95 times, exceeding expectations across all investor categories. Qualified institutional bidders (QIBs) alone subscribed 235.88 times their allocation.

The company, which manufactures machinery for the plastic packaging industry, offered shares in a price band of ₹230-₹243 per share. Allotment of shares will be finalized on December 24th, with investors receiving updates on fund debits or IPO mandate revocations by December 26th. A strong grey market premium (GMP) of ₹260 suggests a potential listing gain of up to 107%.

The Ahmedabad-based company’s shares are expected to be listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on Friday, December 27th. Investors can check their allotment status on the BSE website (https://www.bseindia.com/investors/appli_check.aspx) or the Link Intime India portal (https://linkintime.co.in/MIPO/Ipoallotment.html).

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