Mamata Machinery IPO closes today; Subscription rises 37x, GMP up 107%

The subscription window to bid for the Mamata Machinery IPO closes today. Here are the key details of the IPO, including price band, lot size, subscription status, GMP, and allotment and listing dates

Mamata Machinery IPO subscription status: The three-day subscription window for the initial public offering (IPO) of Mamata Machinery, which opened for public subscription on Thursday, December 19, 2024, is set to conclude today, Monday, December 23, 2024. The public offering has so far received an overwhelming response from investors.

 

Data available on the National Stock Exchange (NSE) revealed that the Mamata Machinery IPO has received bids for 19,54,62,727 shares against 51,78,227 shares on offer, resulting in an oversubscription of 37.75 times by the end of the second day of subscription, December 20, 2024.  

 

Retail Individual Investors (RIIs) have led the demand for the Mamata Machinery IPO, oversubscribing the category reserved for them by 51.03 times. Non-Institutional Investors (NIIs) oversubscribed their category by 50.23 times. The Qualified Institutional Buyers (QIBs) have shown the least interest, with an oversubscription of 4.74 times. Additionally, the quota reserved for employees has been oversubscribed by 54.31 times.

 

 

Mamata Machinery IPO grey market premium (GMP) today

Meanwhile, shares of Mamata Machinery continue to hold a strong premium in the grey market on Monday. Sources tracking unofficial market activities revealed that Mamata Machinery shares were trading at Rs 503 apiece, reflecting a grey market premium (GMP) of Rs 260 or 107 percent per share over the upper end of the IPO price band of Rs 243.

 

Mamata Machinery IPO details

The Rs 179.39 crore offering, which comprises entirely an offer for sale of equity shares, is available at a price band of Rs 230–243 per share, with a lot size of 61 shares. Investors can bid for a minimum of 61 shares or multiples thereof. Accordingly, a retail investor would require a minimum of Rs 14,823 to bid for one lot or 61 shares, and Rs 1,92,699 to bid for a maximum of 13 lots, totaling 793 shares.

 

The IPO has garnered positive reviews from brokerages, including Anand Rathi Research and Bajaj Broking. READ MORE

 

As the subscription window for the Mamata Machinery IPO closes today, the basis of allotment of shares will be finalised tentatively on Tuesday, December 24, 2024. Successful allottees will receive the shares in their demat accounts by Thursday, December 26, 2024.

 

Shares of Mamata Machinery are slated to list on the BSE and NSE tentatively on Friday, December 27, 2024.

 

About Mamata Machinery

Incorporated in April 1979, Mamata Machinery manufactures and exports machines for making plastic bags, pouches, packaging, and extrusion equipment. The company provides manufacturing solutions for the packaging industry, catering to FMCG, Food, and Beverage industries. As of May 31, 2024, the company has exported machines to over 75 countries. It has international offices in Bradenton, Florida, and Montgomery, Illinois, as well as sales agents in over five countries across Europe, South Africa, and Asia.