Mamata Machinery Ltd Files for IPO with SEBI

Packaging equipment manufacturer Mamata Machinery Ltd has filed papers with SEBI to launch an IPO. The Gujarat-based company's entire sale is an offer for sale of 73.82 lakh equity shares by its promoters. The objective is to leverage the benefits of listing, boost visibility, and enhance shareholder liquidity.

In a significant development, packaging equipment manufacturer Mamata Machinery Ltd has submitted initial papers to the capital markets regulator SEBI to initiate an initial public offering (IPO).

The Gujarat-headquartered company's IPO is exclusively an offer for sale (OFS) comprising 73.82 lakh equity shares by its promoters, as per the draft red herring prospectus (DRHP).

Key promoters—including Mahendra Patel, Nayana Patel, Bhagvati Patel, Mamata Group Corporate Services LLP, and Mamata Management Services LLP—are set to offload their shares. As the IPO is an OFS, Mamata Machinery will not receive any proceeds;instead, the funds will go to the selling shareholders.

The primary goals for the IPO include gaining the strategic advantages of stock exchange listing, improving the company's visibility and brand image, providing liquidity for shareholders, and creating a public market for equity shares.

Mamata Machinery specializes in the manufacturing and export of plastic bag and pouch-making machines, packaging machines, and extrusion equipment operating under the brand names 'Vega' and 'Win'. As of May 2024, the company has installed over 4,500 machines across 75 countries.

Beeline Capital Advisors Private Limited has been appointed as the sole Book Running Lead Manager for the issue.

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