Mamata Machinery's IPO Surges to Record Subscription Highs

Mamata Machinery Ltd's IPO witnessed a significant oversubscription of 194.95 times on its closing day. The company, specializing in packaging machinery, sold 73.82 lakh equity shares as an Offer-for-Sale, accumulating Rs 179.38 crore. The proceeds will benefit the promoters, and the shares will list on BSE and NSE.

The initial public offering (IPO) of Gujarat-based Mamata Machinery Ltd concluded with an overwhelming subscription rate of 194.95 times on its final trading day. This colossal demand highlights investor confidence in the packaging machinery manufacturer.

According to data from the National Stock Exchange (NSE), the Rs 179-crore share sale received bids for 1,00,94,81,802 shares compared to the 51,78,227 shares available. The Non-Institutional Investors showed exceptional interest, with their segment subscribing 274.38 times, followed closely by Qualified Institutional Buyers (QIBs) at 235.88 times and Retail Individual Investors (RIIs) at 138.08 times.

Mamata Machinery's IPO is structured as an Offer-for-Sale, with 73.82 lakh shares offered by the promoters, indicating that the company didn't raise fresh capital. Instead, the funds collected amounting to be Rs 179.38 crore will serve the selling shareholders. The stock listing aims to enhance brand visibility, provide liquidity for shareholders, and establish a public market. Mamata Machinery, which provides end-to-end solutions in the packaging industry, operates under the brand names 'Vega' and 'Win'.

Anchor investors contributed over Rs 53 crore, playing a pivotal role in reinforcing the IPO's success. Beeline Capital Advisors served as the book-running lead manager for the issue, and the company's shares are scheduled for listing on the BSE and NSE.

(With inputs from agencies.)