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The initial public offer (IPO) of Mamata Machinery received 19,54,62,727 bids for shares as against 51,78,227 shares on offer, according to stock exchange data at 17:00 IST on Friday (20 December 2024). The issue was subscribed 37.75 times. The issue opened for bidding on 19 December 2024 and it will close on 23 December 2024. The price band of the IPO is fixed between Rs 230 and 243 per share. An investor can bid for a minimum of 61 equity shares and in multiples thereof. The offer consists of an offer for sale (OFS) of 73,82,340 equity shares of Rs 10 face value. The entire OFS is made of equity sales by promoters, members of promoter families, and group companies. The company will not receive any proceeds from the OFS. Ahead of the IPO, Mamata Machinery on Wednesday, 18 December 2024, raised Rs 53.55 crore from anchor investors. The board allotted 22.04 lakh shares at Rs 243 each to 7 anchor investors. Mamata Machinery is engaged in the manufacture and export of machinery that makes plastic bags and pouches, packaging machines, and extrusion equipment. It sells its machines under the brand names 'Vega' and Win.'. The company offers end-to-end solutions for plastic film-based flexible packaging, providing services from concept to commissioning. Its product range includes side/bottom seal machines, universal wicketers, stand-up zipper/spout machines, side seal pouch makers, and a variety of attachments for value-added bags. The firm reported a consolidated net profit of Rs 0.22 crore and sales of Rs 27.62 crore for the three months ended on 30 June 2024. Powered by Capital Market - Live News
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