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

The day marked five companies listing with a premium on the exchanges, ranging from 18% to 147%.

• Investment in wholly owned subsidiary Concord Enviro FZE for financing its capital-expenditure requirements for a greenfield project to develop an assembly unit for systems and plants for treatment of water, waste water and related membrane modules.

• Investment in wholly owned subsidiary Rochem Separation Systems (India) Pvt. for financing its capex requirements for the brownfield project to expand the manufacturing facilities, storage and supporting activities.

• Investment in Concord Enviro FZE for prepayment or repayment of all or a portion of certain outstanding borrowings, as well as working-capital requirements.

  Click the link to know more:

Shares of the widely oversubscribed company hit a 5% upper circuit on the bourses within minutes of listing. Share price of Mamata Machinery is currently locked at Rs 630, as of 10:27 a.m.

Shares of the textile-company are trading 5.36% low from their listing price at Rs 399.65, as of 10:23 a.m. on the NSE. This compares to a 0.75% advance in the benchmark Nifty 50.

The Mumbai-based company will garner Rs 400 crore from the fresh issue, while Rs 438.91 crore will go to the selling promoter. Net proceeds from the fresh issue, excluding the Rs 50 crore pre-IPO placement, will be used to fund incremental working capital requirements and further capital expenditure.

The company will utilise Rs 250 crore raised from the net proceeds and pre-IPO placement towards its working capital requirements, of which Rs 217.02 crore will be deployed by fiscal ending March 2025.

Another Rs 90.73 crore has been reserved for capex spends, all of which will be invested in the current financial year.