Mamata Machinery Shares List At 147% Premium Over Issue Price

Mamata Machinery's offer was widely oversubscribed by its final day, garnering 194.95 the bids.

Mamata Machinery shares debuted on the National Stock Exchange at a premium of xx%. (Image Source: Envato)

Shares of Mamata Machinery Ltd. debuted on the National Stock Exchange and BSE at Rs 600 apiece, at a premium of 146.91% over issue price of Rs 243.

Mamata Machinery's IPO, which closed on Dec. 23, was subscribed 194.95 times, with demand led by non-institutional investors. The IPO comprised a pure offer for sale component worth Rs 179.4 crore.

The funds raised will be used to enhance the company's visibility and brand image after the listing of equity shares. It will also yield liquidity to their shareholders along with opening its shares for the public market in India.

Also Read: Mamata Machinery IPO Allotment: Only One In Every 114 Retail Applicants Managed To Bag Shares

The company raised Rs 53.6 crore from anchor investors a day before its IPO opened for bidding. The lender allotted approximately 22 lakh shares at Rs 243 apiece to seven anchor investors, including 3P India Equity Funds 1M, Authum Investment and Infrastructure Ltd., Winro Commercial (India) Ltd. and Aarth AIF, it said in an exchange filing.

Beeline Capital Advisors Pvt. is the leading bookrunner, and Link Intime India Pvt. is the registrar for the offer.

Also Read: IPO Listing Updates: Mamata Machinery Shares Hit Upper Circuit, DAM Capital Has Stellar Debut

Mamata Machinery Business

Mamata Machinery started commercial operations as a manufacturer of bag-making machines in 1989. It sells packaging machinery to direct consumer brands, catering to the fast-moving consumer goods, food and beverage industry, and bag and pouch making machines to converters and service providers who, in turn, mainly cater to the FMCG and consumer industry.

Balaji Wafers Pvt., Chitale Foods, Gits Food Products Pvt. and Hershey India Pvt. are some of its customers. The company sells its machines under the brand name Vega and Win.

Also Read: RBL Bank Raises Rs 163 Crore From Sale Of Stake In DAM Capital Advisors IPO

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WRITTEN BY
Divya Prata
Divya Prata is a desk writer at NDTV Profit, covering business and market n... more
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