Mamata Machinery’s IPO had an impressive debut on the stock exchange. The stock, issued at Rs 243, was listed at Rs 600, marking a massive 147% jump.
The momentum didn’t stop there; the stock gained another 5% after listing, reaching Rs 630, and hit the upper circuit. This means the IPO delivered a whopping 160% return to investors who were allotted shares.
Funds Raised Through Rs 243 Issue Price
The company raised Rs 179.39 crore from the IPO, which was entirely through the sale of 0.74 crore shares under an offer for sale.
The IPO was open for subscription from December 19 to December 23, with shares allotted to investors on December 27.
Mamata Machinery set the price band for the IPO between Rs 230 and Rs 243, offering employees a discount of Rs 12 per share.
Overwhelming Investor Response
The IPO witnessed an overwhelming response, closing with a total subscription of 195 times. Institutional investors subscribed 235.88 times, non-institutional investors subscribed 274 times, and retail investors subscribed 138 times, showcasing strong demand across categories.
About Mamata Machinery
Established in 1979, Mamata Machinery Limited specializes in manufacturing and exporting machines for plastic bags, pouches, packaging, and extrusion equipment.
Its clients include FMCG, food, and beverage companies. As of May 31, 2024, the company has exported its machines to 75 countries.
Financially, the company reported revenues of Rs 210 crore and a net profit of Rs 22.51 crore for FY 2022-23. In FY 2023-24, its revenue increased to Rs 241.31 crore, with a profit of Rs 36.13 crore, reflecting robust growth.
