Mamata Machinery Advances with ₹179-Crore IPO: Key Highlights

Mamata Machinery Ltd has raised over ₹53 crore from anchor investors before its ₹179-crore IPO. The IPO, open from December 19-23, is set at a price range of ₹230-243 per share. The offering is an entirely offer-for-sale process, with proceeds benefiting selling shareholders.

Mamata Machinery Ltd has successfully secured over ₹53 crore from anchor investors ahead of its upcoming initial public offering (IPO), which aims to raise ₹179 crore. The IPO is open for public subscription from December 19 to 23, with a price range between ₹230 and ₹243 per share.

A circular on BSE's website revealed that the company allocated 22.04 lakh shares to seven funds at ₹243 each, amounting to a transaction size of ₹53.56 crore. The sale is entirely an offer-for-sale (OFS) by promoters, ensuring all proceeds benefit the selling shareholders.

The IPO is designed to enhance Mamata Machinery's market visibility and brand image while offering liquidity to shareholders, with shares expected to list on December 27 on the BSE and NSE. Beeline Capital Advisors is the lead manager for the issue.

(With inputs from agencies.)