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Mamata Machinery IPO GMP: Unlisted shares of Mamata Machinery are trading at Rs 443 in the grey market, showing a costs of Rs 200 (82.3%) over the top rate band of Rs 243, suggesting excellent market launching.
Mamata Machinery IPO.
The IPO of Mamata Machinery Ltd, a Gujarat- based producer of product packaging equipment, opened up on Thursday to a passionate reaction. Within the very first hour of bidding process, the IPO was subscribed over 2 times. The rate band for the offering is established in between Rs 230 and Rs 243 per share
By 10:50 am on the very first day, the Rs 179.39 crore public problem amassed proposals for 1.19 crore shares, dramatically going beyond the 51.78 lakh shares available, leading to a registration price of 2.31 times
Category-Wise Subscription:
- Retail Investors: 3.68 times registration
- Non-Institutional Investors (NII): 2.11 times registration
Mamata Machinery IPO: Key Dates
- Closing Date: December 23 (Monday)
- Allotment Finalisation: December 24
- Listing on BSE and NSE: December 27 (Friday)
Mamata Machinery IPO GMP Signals Strong Listing
As per market experts, the non listed shares of Mamata Machinery are trading at Rs 443 in the grey market, showing a costs of Rs 200 (82.3%) over the top rate band of Rs 243. This shows a possibly excellent listing on December 27.
About the IPO
The preliminary share sale is an offer-for-sale (OFS) of 73.82 lakh equity shares by the marketers, totaling up to Rs 179.38 crore at the top rate band.
Promoters joining the OFS consist of:
- Mahendra Patel
- Nayana Patel
- Bhagvati Patel
- Mamata Group Corporate Services LLP
- Mamata Management Services LLP
Since the IPO is an OFS, the firm will certainly not get profits from the problem. Instead, the funds will certainly go straight to the marketing investors.
Objectives of the IPO
The firm intends to take advantage of the equity share detailing to:
- Enhance presence and brand name acknowledgment
- Provide liquidity to existing investors
- Establish a public market for equity shares
At the top rate band, the firm’s market capitalization is approximated at about Rs 600 crore
Anchor Investors and Pre- IPO Details
Mamata Machinery increased Rs 53.56 crore from support capitalists before the IPO by allocating 22.04 lakh shares at Rs 243 each The capitalists consist of:
- 3P India Equity Fund
- Authum Investment and Infrastructure
- Winro Commercial (India) Ltd
- Subhkam Ventures
- Chartered Finance and Leasing
- Belgrave Investment Fund
- Aarth AIF
About Mamata Machinery
The firm supplies end-to-end production services for the product packaging sector, offering items under the brand names ‘Vega’ and ‘Win.’ It offers the versatile product packaging market throughout the whole worth chain.
Issue Allocation
- 50% scheduled for Qualified Institutional Buyers (QIBs)
- 35% for Retail Investors
- 15% for Non-Institutional Investors
Beeline Capital Advisors is the single book-running lead supervisor for the problem. The equity shares will certainly be provided on the BSE and NSE on December 27.
