Mamata Machinery IPO opens tomorrow: GMP, issue details, 10 key things to know | Stock Market News

 Mamata Machinery IPO opens for subscription on tomorrow (Thursday, December 19). The company produces and exports machines for making plastic bags and pouches, packaging equipment, and extrusion machinery. They offer comprehensive manufacturing solutions for the packaging sector. The items produced with their machinery find applications across various industries for packaging, including food and FMCG products. The firm primarily sells its packaging machinery to consumer brands that serve the FMCG, Food, and Beverage sectors, as well as bag and pouch making machines to converters and service providers, who mainly serve the FMCG and consumer sectors.

Mamata Machinery serves a diverse clientele that includes Balaji Wafers Private Ltd, Dass Polymers Private Ltd, Jflexy Packaging Private Ltd, Euphoria Packaging Private Ltd, Sunrise Packaging, Om Flex India, Chitale Foods, V3 Polyplast Private Ltd, Dhalumal Packaging Industries LLC, Laxmi Snacks Private Ltd, Ganges Jute Private Limited, Western India Cashew Company Private Ltd, N. N. Print & Pack Private Limited, Gits Food Products Private Ltd, Emirates National Factory for Plastic Ind LLC, Dhwani Polyprints Private Ltd, Kamakshi Suedpack Private Limited, Bansal Industries, and Hershey India Private Ltd. Additionally, the company offers after-sales services to its clients.

According to the red herring prospectus (RHP), the company’s comparable listed peers include Rajoo Engineers Ltd (which has a P/E ratio of 57.16), Windsor Machines Ltd, and Kabra Extrusion Technik Ltd (with a P/E ratio of 30.64).

For the fiscal year 2024, the company reported a revenue of ₹236.61 crore, rising from ₹200.87 crore in the preceding fiscal year. During this period, the net profit grew to ₹36.13 crore, up from ₹22.51 crore in the prior year.

Here are the 10 key things to know about Mamata Machinery IPO

Mamata Machinery IPO date: The IPO opens for subscription on Thursday, December 19, and closes on Monday, December 23.

Mamata Machinery IPO price band: The IPO price band has been fixed in the range of ₹230 to ₹243 per equity share of face value of ₹10.

Mamata Machinery IPO lot size: The lot size is 61 equity shares and in multiples of 61 equity shares thereafter.

Anchor investors: The allocation to anchor investors for Mamata Machinery IPO is scheduled to take place today (Wednesday, December 18).

Mamata Machinery IPO details: The IPO consists entirely of an offer for sale (OFS) that includes a maximum of 7.38 million shares from promoters and current shareholders. If priced at the highest band, the total value of the issue will reach ₹179.39 crore.

The promoters of the company include Mahendra Patel, Chandrakant Patel, Nayana Patel, Bhagvati Patel, as well as Mamata Group Corporate Services.

Mamata Machinery IPO objective: The purpose of the offer is to facilitate the Offer for Sale (OFS) of as many as 7,382,340 equity shares by the selling shareholders and to realize the advantages of listing these equity shares on the Stock Exchanges.

Mamata Machinery IPO listing date and allotment details: Tentatively, Mamata Machinery IPO basis of allotment of shares will be finalised on Tuesday, December 24, and the company will initiate refunds on Thursday, December 26, while the shares will be credited to the demat account of allottees on the same day following refund. Mamata Machinery share price is likely to be listed on BSE and NSE on Friday, December 27.

Lead Manager and Registrar of Mamata Machinery IPO: Beeline Capital Advisors Pvt Ltd serves as the book running lead manager for the Mamata Machinery IPO, whereas Link Intime India Private Ltd acts as the registrar for this issue.

Mamata Machinery IPO reservation: The IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. The employee portion has been reserved up to 35,000 equity shares. A discount of ₹12 per equity share is being offered to eligible employees bidding in the employee reservation portion.

Mamata Machinery IPO GMP today: Mamata Machinery IPO grey market premium or is +150. This indicates Mamata Machinery share price were trading at a premium of ₹150 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Mamata Machinery share price was indicated at ₹393 apiece, which is 61.73% higher than the IPO price of ₹243.

Based on the grey market activities observed over the past six sessions, the IPO GMP shows an upward trend today, indicating a robust listing. The minimum GMP recorded is ₹75, while the maximum is ₹150, as per experts from investorgain.com.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.