The initial share sale of machine manufacturer and exporter Mamata Machinery Ltd. will open for subscription on Thursday, Dec. 19. A day ahead of the opening, Mamata Machinery IPO is seeing strong interest from investors in the unlisted market.
The grey market premium of Mamata Machinery is projecting a listing gain of 45.68% on the upper end of the price band on Dec. 18. Mamata Machinery IPO GMP at 8:00 a.m. on Wednesday was at Rs 111, according to InvestorGain. This points to a strong listing gain over the upper limit of the price band. If the current trends are sustained till the listing date, shares of Mamata Machinery are likely to debut on the bourses at Rs 354 apiece.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
Mamata Machinery IPO: Dates, Price Band and Offer Size
The Mamata Machinery IPO will be open for bidding between Dec. 18 and Dec. 23. The share allotment of the issue is expected to be finalised on Dec. 24.
The Rs 179.39-crore issue is entirely an offer-for-sale of 74 lakh shares offered within the price band of Rs 230 to Rs 243 apiece.
Retail investors are required to apply for a minimum of 61 shares in a single lot. The minimum investment to subscribe to the issue is Rs 14,823 for each application.
Link Intime India Pvt. is the registrar for the issue, while Beeline Capital Advisors Pvt. is the sole book-running lead manager.
Shares of Mamata Machinery Ltd. are likely to be listed on BSE and NSE on Dec. 27.
Use Of Proceeds
Mamata Machinery will not receive any proceeds from the IPO as the issue comprises entirely of an offer-for-sale component, whereby promoters and shareholders will offload their stake.
About Mamata Machinery Ltd.
Mamata Machinery Ltd. is engaged in the manufacturing and export of machines used to make plastic bags, pouches, packaging as well as extrusion equipment. The company largely caters to the FMCG and food and beverages industries.
Key clients of Mamata Machinery include Balaji Wafers Pvt., Dass Polymers Pvt., JFlexy Packaging Pvt., Euphoria Packaging Pvt., Sunrise Packaging, Om Flex India, Chitale Foods, V3 Polyplast Pvt., Dhalumal Packaging Industries LLC, Laxmi Snacks Pvt. and Ganges Jute Pvt. among others
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
. Read more on IPOs by NDTV Profit.Mamata Machinery IPO GMP at 8:00 a.m. on Wednesday was at Rs 111, according to InvestorGain. Read MoreIPOs, Markets, Notifications
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