Mamata Machinery was listed at Rs 600 on the National Stock Exchange, a premium of 147% to the issue price. It was listed at Rs 600 on the BSE, similar to that on NSE.
Mamata Machinery IPO GMP
The stock of Mamata Machinery was fetching a premium of 107% in the grey market, which indicated that it might list around Rs 503 on the exchanges. The grey market is an unofficial place to trade shares ahead of listing.
Mamata Machinery IPO details
It received a whopping subscription rate of nearly 195 times. The retail investors booked the issue 138.08 times and employees booked it 153.27 times. The QIBs subscribed to the issue 235.88 times. The NIIs dominated the subscription by booking it 274.38 times. The IPO opened for subscription between December 19 and December 24. The allotment of the shares was finalised on December 24. The company raised a sum of Rs 179.39 crore from investors by selling 74 lakh shares of promoters and other selling shareholders.
Mamata Machinery IPO review
“We believe the demand was on the back of reasonable valuations keeping good listing gains on the table for new investors. Expected listing gain is justified as the company has left something on the table to reward new investors with reasonable valuations. We also believe Mamata Machinery IPO brings investors to invest in a player in the packaging machinery industry, known for its precision and automated solutions,” said Prashanth Tapse, Senior Vice President of Research at Mehta Equities. “The long-term investors should consider “hold it for long-term” despite knowing short-term volatility & risk in the markets. For non-allotted investors, we advise to accumulate if we get dips post-listing due to profit booking attempts.”
About Mamata Machinery
The company is a manufacturer and an exporter of plastic bags and pouch-making machines, packaging machines and extrusion equipment. Mamata Machinery primarily sells its packaging machinery to direct consumer brands catering to the FMCG, Food, & Beverage Industry and bag and pouch-making machines to convertors and service providers.
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