IPO GMP News / Mamata Machinery IPO got heavily subscribed on the second day, know how much is the GMP

IPO GMP News: The initial public offering (IPO) of packaging machinery manufacturer Mamta Machinery Limited has received an overwhelming response from investors. On the second day, Friday, the IPO received a 37.75 times subscription, with retail investors showing the most interest.

IPO receives tremendous subscription

According to National Stock Exchange (NSE) data, 51,78,227 shares were offered in the IPO, while bids were received for 19,54,62,727 shares in return.

The retail individual investors (RII) category received a 51.03 times subscription.

For non-institutional investors, the figure was 50.23 times.

The qualified institutional buyers (QIB) category received a 4.74 times subscription.

Rs 53 crore raised from anchor investors

The company had announced raising Rs 53 crore from anchor investors. The Rs 179 crore IPO is open for subscription till December 23 in the price range of Rs 230-243 per share.

Form and Objective of the IPO

The IPO of Mamta Machinery is completely Open for Sale (OFS) with 73.82 lakh equity shares offered by the promoters.

Since it is an OFS, the company will not receive any direct proceeds from this IPO.

The objective of the company is to increase visibility through listing on the stock exchanges, strengthen the brand image and ensure liquidity for shareholders.

Brand and Products

Mamta Machinery provides end-to-end solutions for the packaging industry. The company sells its products under the brand names 'Vega' and 'Win'. It is known for its high-quality solutions and innovation in the industry.

Growth Prospects and GMP

The grey market premium (GMP) of Mamta Machinery IPO is recorded at ₹250.

With the upper end of the price band at ₹243, the estimated listing price is expected to be ₹493.

The potential gain per share is 102.88%, making it attractive for investors.

Lead Manager and Listing Platform

Beeline Capital Advisors is the sole book-running lead manager for the issue. The equity shares of Mamta Machinery will be listed on BSE and NSE.

Future Prospects

This IPO of Mamta Machinery Limited is not only proving to be profitable for the investors but it will also strengthen the brand value and market position of the company. Its strong hold in the packaging industry and innovative solutions will help it grow even faster in the future.

Conclusion

The great response received by the IPO of Mamta Machinery Limited from investors is an indication that the market confidence in the company is strong. Its growth potential and hold in the industry make it a strong option for long-term investment. Post listing, the company is expected to see positive results for both shareholders and the brand.