Mamata Machinery IPO Sees Overwhelming Demand, Fully Subscribed

The initial public offering of Mamata Machinery Ltd was fully subscribed in minutes, closing at 16.48 times subscription. Retail investors showed strong interest, with 23.84 times subscription, and the overall IPO aimed to enhance its market visibility and liquidity for shareholders.

The initial public offering (IPO) of Mamata Machinery Ltd experienced remarkable demand, achieving full subscription shortly after its opening on Thursday. The IPO concluded with an impressive 16.48 times over-subscription, according to data from the NSE.

Retail Individual Investors led the subscription, with their quota achieving 23.84 times, while non-institutional investors subscribed at 18.87 times. The Qualified Institutional Buyers segment also showed interest, with a 1.51 times subscription rate. This Rs 179-crore offering available from December 19 to 23 was priced between Rs 230 and Rs 243 per share.

Gujarat-based Mamata Machinery's share sale was entirely an Offer For Sale, meaning no proceeds will benefit the company directly. Instead, the Rs 179.38 crore raised will benefit selling shareholders. The IPO aims to enhance brand visibility, liquidity for shareholders, and establish a public equity market. Now, Mamata Machinery's shares will be listed on both BSE and NSE, with Beeline Capital Advisors as the lead manager.

(With inputs from agencies.)