Mamata Machinery’s IPO made a spectacular debut on the stock exchange. Issued at Rs 243 per share, the stock was listed at Rs 600, achieving an astonishing 147% gain.
The excitement continued post-listing, with the stock climbing an additional 5% to hit Rs 630 and reaching the upper circuit.
This delivered an impressive 160% return for investors who were allotted shares.
Funds Raised and Issue Details
The IPO raised Rs 179.39 crore entirely through the sale of 0.74 crore shares under an offer for sale, priced at Rs 243 per share.
The subscription period was open from December 19 to December 23, and shares were allotted to investors on December 27.
Mamata Machinery set a price band of Rs 230 to Rs 243 for the IPO, offering employees a special discount of Rs 12 per share.
Overwhelming Subscription Figures
The IPO witnessed remarkable investor interest, achieving a subscription rate of 195 times.
Institutional investors led the demand with a subscription of 235.88 times, followed by non-institutional investors at 274 times and retail investors at 138 times.
About Mamata Machinery
Established in 1979, Mamata Machinery Limited is a leading manufacturer and exporter of machines for plastic bags, pouches, packaging, and extrusion equipment.
The company serves clients in sectors like FMCG, food, and beverages and has exported its products to 75 countries as of May 31, 2024.
Financially, the company has shown strong growth. In FY 2022-23, it recorded revenues of Rs 210 crore and a net profit of Rs 22.51 crore.
This further improved in FY 2023-24, with revenues increasing to Rs 241.31 crore and net profit reaching Rs 36.13 crore.
