Mamata Machinery IPO: Last Day to Bid! Grey Market Premium, Share Price, Allotment and Listing Details
The Mamata Machinery IPO, worth Rs 179 crore, is in its final day of subscription on Monday, December 23, with bidding closing at 5 PM. The initial public offer, which opened on December 19, offers shares in the price range of Rs 230-243 each. As the bidding comes to a close, shares of the company are witnessing strong trading activity in the grey market, with a substantial premium of Rs 260, indicating a potential listing gain of around 107% for investors.
Subscription Status and Bidding Details
By the second day of the subscription, on December 20, the IPO saw an overwhelming response, receiving 37.75 times the bids. Retail investors contributed 51.03 times, while the non-institutional investors category was subscribed 50.23 times. The portion for Qualified Institutional Buyers (QIBs) was subscribed 4.74 times. The IPO had already raised Rs 53 crore from anchor investors by December 18.
About Mamata Machinery Ltd
Mamata Machinery is a Gujarat-based company providing complete manufacturing solutions to the packaging industry. The company markets its products under the brands ‘Vega’ and ‘Win’ and offers a wide range of flexible packaging solutions.
IPO Structure
The IPO is a pure Offer for Sale (OFS) of 73.82 lakh equity shares, with a total worth of Rs 179 crore at the upper price band. The proceeds will go entirely to the selling shareholders, including Mahendra Patel, Nayana Patel, Bhagvati Patel, Mamata Group Corporate Services LLP, and Mamata Management Services LLP. The company itself will not raise funds from this IPO.
IPO Allotment and Listing Dates
The share allotment is expected to be finalised by Tuesday, December 24, and the shares are slated for listing on the BSE and NSE on December 27, 2024.
