The initial public offering (IPO) of Mamata Machinery Ltd is set to close today, December 23, 2024, after a phenomenal response from investors during its three-day subscription period. The IPO, which opened on December 19, 2024, has been heavily oversubscribed, reflecting strong investor confidence in the company.
Mamata Machinery IPO Subscription Status
As per data from the National Stock Exchange (NSE), the IPO received bids for 19.54 crore shares against the 51.78 lakh shares available, resulting in a staggering oversubscription of 37.75 times by the end of Day 2 (December 20).
Category-Wise Breakdown:
- Retail Individual Investors (RIIs): Oversubscribed 51.03 times
- Non-Institutional Investors (NIIs): Oversubscribed 50.23 times
- Qualified Institutional Buyers (QIBs): Oversubscribed 4.74 times
- Employee Quota: Oversubscribed 54.31 times
Grey Market Buzz: Premiums Soar
Mamata Machinery shares are commanding a grey market premium (GMP) of ₹260 per share, a whopping 107% over the upper IPO price band of ₹243. This suggests an anticipated listing price of ₹503, further fueling investor enthusiasm.
IPO Details
- Total Offer Size: ₹179.39 crore (entirely an Offer for Sale)
- Price Band: ₹230–243 per share
- Lot Size: 61 shares
- Minimum Investment: ₹14,823 (1 lot)
- Maximum Investment (13 lots): ₹1,92,699 (793 shares)
IPO Timeline
- Basis of Allotment: December 24, 2024
- Shares Credited to Demat Accounts: December 26, 2024
- Listing Date: December 27, 2024 (BSE and NSE)
About Mamata Machinery
Founded in April 1979, Mamata Machinery specializes in manufacturing and exporting machines for plastic bag and pouch production, packaging solutions, and extrusion equipment. It serves industries such as FMCG, Food, and Beverages, with exports spanning over 75 countries. The company operates international offices in Florida and Illinois, supported by sales agents across Europe, South Africa, and Asia.
Expert Reviews and Investor Sentiment
Brokerages like Anand Rathi Research and Bajaj Broking have issued positive ratings, citing Mamata Machinery’s robust market presence, global reach, and strong financials.
With the IPO closing today and the stock’s anticipated listing premium, Mamata Machinery is poised to deliver significant gains for its investors.
