Mamata Machinery IPO Listing Status: Mamata Machinery IPO is set to debut on the stock exchanges tomorrow (December 27). The IPO, opened for subscription from December 19 to December 24, received a whopping subscription rate of nearly 195 times.
The allotment of the shares was finalised on Tuesday (December 24) and the company is scheduled to list on the stock market tomorrow (December 27).
Here’s everything you need to know about this highly anticipated listing:
Mamata Machinery IPO – GMP Soars
Prior to the official listing of the issue on the Indian bourses tomorrow, Mamata Machinery IPO has been making waves in the grey market. The shares of the company, as of the recent trends, were commanding at a premium of Rs 261. This indicates that the stock is expected to list at around Rs 504 per share, 107 per cent higher than its IPO price of Rs 243.
Mamata Machinery IPO – Subscription Highlights
Mamata Machinery’s IPO bidding period ran from December 19 to December 23, and it quickly became clear that demand far outstripped supply. The IPO was subscribed a staggering 194.95 times.
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Breakdown of the subscription numbers
- Retail Investors – 138.08 times
- Qualified Institutional Buyers (QIBs) – 235.88 times
- Non-Institutional Investors (NIIs) – 274.38 times
What’s the IPO Proceeds Plan?
Unlike most of the public offering, Mamata Machinery will not be receiving any proceeds from the offer.
Instead, all the funds that are raised through the issue will go to the selling shareholders after deducting expenses related to the IPO. This, in simple terms, means that in this offering, investors are essentially purchasing shares directly from existing stakeholders.
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Anchor Investors and Key Players behind the IPO
Mamata Machinery IPO received Rs 53.56 crore from anchor investors prior to the opening of the IPO.
The lead manager of the issue is Beeline Capital Advisors, while Link Intime India acted as the registrars.
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