Mamata Machinery's IPO Achieves Swift Full Subscription

Mamata Machinery Ltd's initial public offering was fully subscribed within minutes of opening. The IPO, valued at Rs 179 crore, offers a price range of Rs 230-243 per share and is open between December 19-23. The company aims to boost brand visibility and provide liquidity to shareholders.

The initial public offering of Mamata Machinery Ltd attracted massive investor interest as it was fully subscribed within minutes of its opening on Thursday. The share sale witnessed bids for 1,69,39,212 shares against the 51,78,227 on offer, achieving a subscription rate of 3.27 times, according to NSE data at 11:12 am.

The retail individual investors' quota fetched an impressive 5.24 times subscription, while non-institutional investors subscribed 2.90 times. The Rs 179-crore IPO remains open for subscription from December 19 to 23, priced between Rs 230 and Rs 243 per share. The Gujarat-based firm raised over Rs 53 crore from anchor investors ahead of the public offering.

This offering from Mamata Machinery is entirely an Offer For Sale (OFS) consisting of 73.82 lakh equity shares valued at Rs 179.38 crore at the upper price band. The funds from this sale will go to the selling shareholders, including Mahendra Patel, Nayana Patel, and others, as the company aims to list its shares to enhance brand visibility and shareholder liquidity. Beeline Capital Advisors serves as the sole book-running lead manager, with listings planned on the BSE and NSE.

(With inputs from agencies.)