Mamata Machinery's stock price made a strong debut on the exchanges today. On NSE and BSE, Mamata Machinery shares started at ₹600 each, up 146.91% from the issue price of ₹243. Following a spectacular launch, the stock reached a 5% upper circuit limit on the markets.
Mamata Machinery Ltd, a manufacturer of packing machinery, received an amazing subscription rate of 194.95 times on the final day of the share sale on Monday. The segment for Non-Institutional Investors received 274.38 times as many subscriptions as the allocation for Qualified Institutional Buyers (QIBs), which was subscribed to 235.88 times. The component reserved for Retail Individual Investors (RIIs) had a subscription rate of 138.08 times.
This ₹179-crore IPO has a price range of ₹230-₹243 per share. On Wednesday, Mamata Machinery Ltd reported that it had collected approximately ₹53 crore from its anchor investors. Mamata Machinery provides comprehensive manufacturing solutions for the packaging industry. The company markets its machines under the brand names 'Vega' and 'Win' and offers a diverse range of products that cover the whole flexible packaging market value chain.
Mamata Machinery IPO details
The IPO is wholly an offer for sale (OFS), with a maximum of 7.38 million shares from promoters and current shareholders. If priced at the highest range, the issue's total value will be ₹179.39 crore.
The promoters of the company are Mahendra Patel, Chandrakant Patel, Nayana Patel, Bhagvati Patel, and Mamata Group Corporate Services.
Beeline Capital Advisors Pvt Ltd is the book-running lead manager for the Mamata Machinery IPO, with Link Intime India Private Ltd acting as the registrar.
Mamata Machinery's IPO reached GMP today
Mamata Machinery's IPO grey market premium is +260. Investorgain.com reports that Mamata Machinery's share price was trading at a premium of ₹260 in the grey market.
Mamata Machinery's share price is anticipated to be ₹503 per share, 107% more than the IPO price of ₹243, taking into account the upper end of the IPO pricing band and the current grey market premium.
Based on the grey market actions observed over the last 15 sessions, the IPO GMP is trending upward today, signaling a strong listing. According to specialists at investorgain.com, the minimum GMP reported is ₹75 and the most is ₹260.
The 'grey market premium' reflects investors' willingness to pay more than the issue price.
