Mamata Machinery's IPO Set to Boost Market Presence

Mamata Machinery Ltd has set a price band of Rs 230-243 for its Rs 179 crore IPO beginning December 19. The offering, closing December 23, is an Offer For Sale by promoters. The Gujarat-based firm seeks visibility and liquidity benefits from stock exchange listing. Market capitalisation at Rs 600 crore.

Mamata Machinery Ltd, a packaging machinery manufacturer, has announced a price band of Rs 230 to Rs 243 per share for its initial public offering (IPO), which seeks to raise Rs 179 crore. The public offer will open on December 19 and close on December 23, with anchor investor bidding commencing December 18.

The IPO is an Offer For Sale (OFS) of 73.82 lakh shares by promoters, including Mahendra Patel and associated entities, expected to generate Rs 179.38 crore at the upper price band. The company will not receive any funds from the sale as proceeds go to selling shareholders. Mamata Machinery aims to list shares to increase visibility and market access.

Specialists like Beeline Capital Advisors are managing the issue, with half of the shares allocated for institutional investors, 35% for retail, and 15% for non-institutional buyers. The company's market capitalisation could reach nearly Rs 600 crore, and shares are anticipated to be listed on BSE and NSE by December 27.

(With inputs from agencies.)