Mamata Machinery IPO GMP: The IPO of packaging machinery manufacturer Mamta Machinery Limited has opened for investment from today, Thursday 19th December. The price band of this IPO of Rs 179 crore has been fixed at Rs 230-243 per share.
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Mamata Machinery IPO GMP
Mamta Machinery Limited wants to raise ₹179.39 crore through IPO. For this, the existing investors of the company are selling 73,82,340 shares worth ₹ 179.39 crore. Mamta Machinery will not issue even a single fresh share for the IPO.
Mamata Machinery IPO GMP Subscription Status
Mamta Machinery IPO GMP has been fully subscribed within minutes of opening. The public issue has been booked twice so far.The public issue received bids for 76.22 lakh equity shares compared to 51.78 lakh shares.
The IPO has so far been subscribed 2.29 times in the retail category and 1.47 times in the non-institutional investor (NII) category. The employee portion has been booked 3.38 times,While qualified institutional buyers (QIBs) had not yet bid for Mamta Machinery IPO. The company’s IPO will close on 23 December Ahead of the listing, the company has raised ₹53 crore from anchor investors.
According to a notice on the BSE website, the company allotted 22.04 lakh shares to seven investment funds at the rate of ₹243 per share, making a total transaction of ₹53.56 crore.The market cap of Mamata Machinery at the upper price band of the IPO is valued at around ₹600 crore.
The company provides complete manufacturing solutions to the flexible packaging market under the ‘Vega’ and ‘Win’ brands. Its products cover the entire value chain of the packaging sector.Half of this offer has been reserved for QIBs, 35 % for retail investors and the remaining 15 %The company’s P/E multiple at the upper price band of ₹243 is 16.6x, which is at a discount to its peers for NIIs.
Today Mamata Machinery IPO GMP
The gray market premium of Mamta Machinery IPO has reached Rs 200. This means that including IPA price of Rs 243 and latest GMP, it can be listed at Rs 443. That means investors can get up to 83% profit on the very first day.
Let us tell you that the equity shares of the company will be listed on BSE and NSE on 27th December.
About the Mamata Machinery IPO GMP
• The Gujarat-based company’s initial share sale is entirely an offer for sale (OFS) of 73.82 lakh equity shares by promoters.
• Those selling shares under OFS include Mahendra Patel, Nayana Patel, Bhagwati Patel, Mamta Group Corporate Services LLP and Mamta Management Services LLP. Since it is an OFS, the company will not receive any amount from the public issue, and the entire fund will go to the shareholders selling the issue.
• Beeline Capital Advisors Pvt Ltd is acting as the book running lead manager and Link Intime India Private Ltd is acting as the registrar for this IPO.Brokerage advice According to the brokerage of choice equity private limited The company’s P/E multiple at the upper price band of ₹243 is 16.6x, which is at a discount to its peers.
The company has continuously increased the sales of its products domestically and globally.In the coming time, expansion into new markets like Europe, Africa and the Middle East will increase the company’s long-term growth potential. The brokerage has given it a “SUBSCRIBE” rating.
• Bajaj broking point of view Bajaj broking is said about this IPO Innovative plastic bag and pouch making machines are the specialty of the company. It also has a production unit in America, due to which it is also active in the global market. The company has consistently grown its revenue and profits from FY22 to FY24.Although costs remained high in Q1-FY25, the company’s performance improved later. Investors can think about mid- to long-term investment in this.
About the Company
• Mamta machinary limited Established in April 1979 located in gujrat
• The company manufactures and exports machines for making bags, pouches, packaging extrusion equipment.
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