Mamata Machinery's Stellar Market Debut with 147% Premium

Mamata Machinery Ltd's shares soared nearly 147% on their market debut, jumping to Rs 629.95. The company's IPO was oversubscribed 194.95 times, generating significant interest. The entire Rs 179-crore offer, an Offer-for-Sale, aims to boost visibility, liquidity, and brand image without proceeds for the company.

Mamata Machinery Ltd experienced a sensational market debut as its shares opened to a 147% premium, listing at Rs 600 on the BSE. The company's share price peaked at Rs 629.95, reflecting investors' robust interest.

The IPO of the Gujarat-based packaging machinery manufacturer was met with overwhelming demand, receiving subscriptions 194.95 times over. The offering, valued at Rs 179 crore, was fully allocated as an Offer-for-Sale by the promoters at the upper price bracket of Rs 243 per share.

As a result, the company will not accrue any funds directly from the IPO. Instead, the offering seeks to amplify the company's visibility, enhance its brand value, and provide liquidity to its shareholders by establishing a public market for its shares.

(With inputs from agencies.)