Mamata Machinery IPO listing brings hefty gain; shares list at 147% premium

Mamata Machinery shares listed at Rs 600 apiece on the NSE BSE alike today, translating into listing gains of more than145 per cent and outperforming grey market expectations

Mamata Machinery IPO listing: Mamata Machinery IPO listing brought windfall gains for investors as the company's shares made a stellar debut on D-Street on Friday, December 27, 2024. On the National Stock Exchange (NSE), Mamata Machinery shares listed at Rs 600, reflecting a premium of 146.92 per cent per share over the issue price of Rs 243. 

Mamata Machinery shares listed at Rs 600 apiece on the BSE, reflecting a similar premium of 146.92 per cent over the IPO allotment price.

 

Mamata Machinery IPO listing outperformed the grey market expectations. Ahead of the listing, the unlisted shares of Mamata Machinery were trading at Rs 503, reflecting a grey market premium (GMP) of Rs 260 or 107 per cent over the upper end of the IPO price band of Rs 243, according to sources tracking grey market activities.   Following the listing, Shivani Nyati, Head of Wealth at Swastika Investmart, said the company's strong global presence, including a manufacturing unit in the US, and its consistent growth in revenue and profit underscore its robust fundamentals. "Those who took part in the initial public offering (IPO) may book part-profit and choose to hold onto their shares while keeping a careful eye on the company's performance and the state of the market, as well as maintaining a stop-loss at Rs 550," Nyati added.   

Also Check: Unimech Aerospace IPO Allotment

 

 

  Mamata Machinery IPO details

The Rs 179 crore offering, which comprises entirely an offer for sale of equity shares, was open for subscription from Thursday, December 19, 2024, to Monday, December 23, 2024. Mamata Machinery raised Rs 53.56 crore from anchor investors, with the bidding concluding on December 18, 2024. 

 

Mamata Machinery was available at a price band of Rs 230–243 per share, with a lot size of 61 shares. The public offering closed with bids for 1,00,94,81,802 shares against the 51,78,227 shares offered, leading to an oversubscription of 194.95 times, as per BSE data. Among investor categories, Non-Institutional Investors (NIIs) led the demand for the Mamata Machinery IPO, subscribing to 274.38 times their quota. This was followed by Qualified Institutional Buyers (QIBs), who bid for 235.88 times their allocated quota, and Retail Individual Investors (RIIs), who subscribed 138.08 times.  Also Read: Transrail Lighting IPO listing

 

The basis of allotment of Mamata Machinery IPO shares was finalised on Tuesday, December 24, 2024. 

 

As the IPO comprises only an offer for sale, Mamata Machinery stated in its Red Herring Prospectus (RHP) that it “will not receive any proceeds from the offer, and all the offer proceeds will be received by the selling shareholders after the deduction of offer-related expenses to be borne by the selling shareholders.”

  About Mamata Machinery

Mamata Machinery, incorporated in April 1979, manufactures and exports machines for plastic bag making, packaging, and extrusion equipment. The company caters to the FMCG, food, and beverage industries. As of May 31, 2024, it has exported machines to over 75 countries. The company operates with a team of 87 skilled engineers and application experts.