Mamata Machinery IPO Day 2: Subscription soars 23x, GMP zooms 107%

Mamata Machinery IPO subscription status: Mamata Machinery has received an enthusiastic response from investors for its initial public offering (IPO), which opened for subscription on Thursday, December 19, 2024. The Rs 179.39 crore offering has been subscribed 23.46 times as of 11:33 AM on Friday, December 20, 2024, according to data available on the National Stock Exchange (NSE).

 

The Mamata Machinery IPO has witnessed the highest demand among Retail Individual Investors (RIIs), who have oversubscribed the category reserved for them by 33.64 times. This was followed by Non-Institutional Investors (NIIs), who have oversubscribed their category by 28.46 times, and Qualified Institutional Buyers (QIBs) at 1.52 times. Further, the quota reserved for employees has also seen substantial interest.

 

  Mamata Machinery IPO grey market premium(GMP) today

Meanwhile, shares of Mamata Machinery are commanding a strong premium in the grey market on Friday. 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 per cent per share over the upper end of the IPO price band of Rs 243.

  Mamata Machinery IPO details

Priced in the range of Rs 230–243 per share, the Mamata Machinery IPO comprises a complete offer for sale (OFS) of 73,82,340 shares. The company has set the lot size at 61 shares, allowing investors to 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 (61 shares) and Rs 1,92,699 to bid for a maximum of 13 lots, totaling 793 shares.

 

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

 

The subscription window to bid for the Mamata Machinery IPO is set to close on Monday, December 23, 2024. After the closure of the subscription window, the basis of allotment of shares will be finalized 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 expected to list on the BSE and NSE on Friday, December 27, 2024.

  About Mamata Machinery

Mamata Machinery (MML), established in 1979, designs, manufactures, and exports a range of machinery, including plastic bag and pouch-making machines, packaging machines, and extrusion equipment. The company offers comprehensive manufacturing solutions to the packaging industry. Its machines produce packaging materials used in various sectors, including food and FMCG products.