Mamata Machinery Ltd. Soars Over 159% on Market Debut

Shares of Mamata Machinery Ltd surged over 159% on their debut, closing at Rs 629.95 on the BSE and Rs 630 on the NSE, significantly exceeding the issue price of Rs 243. The company's IPO saw massive interest, being oversubscribed 194.95 times, demonstrating strong market reception.

Shares of packaging machinery manufacturer Mamata Machinery Ltd experienced a stellar market debut on Friday, closing with a premium exceeding 159% over their issue price of Rs 243.

On the BSE, Mamata Machinery shares began trading at Rs 600, a rise of 146.91%. The stock continued its upward trajectory, settling at Rs 629.95, marking the upper circuit limit. Similarly, on the NSE, the shares opened at Rs 600 and concluded at Rs 630, reflecting an increase of 159.25%.

The IPO of Mamata Machinery Ltd was met with overwhelming interest, achieving a subscription rate of 194.95 times. While the Rs 179-crore IPO was an Offer-for-Sale of 73.82 lakh equity shares, the company aims to leverage the listing to enhance its brand image and shareholder liquidity.

(With inputs from agencies.)