Mamata Machinery IPO oversubscribed within an hour on opening day; check subscription status, price band and key details

Mamata Machinery IPO was oversubscribed within an hour of opening for subscription on Thursday amid robust demand from retail investors.

The ₹179.39 crore issue was subscribed 2.73 times as of 10:57 am. It received bids for 1,41,54,074 shares against 51,78,227 shares on offer.

Retail investors subscribed the most, bidding for 1,12,30,283 shares against 25,71,569 reserved for them, leading to 4:37 times subscription.

Non-institutional investors (NIIs) portion received 2.44 times subscription, securing bids for 26,88,819 shares compared to 11,02,101 shares set aside for them.

The employees' quota was also booked 6.64 times as it received bids for 2,32,349 shares against 35,000 shares reserved for them.

Interested investors can bid for at least one lot size, comprising 61 shares, worth ₹14,823.

The company has reserved 50% of the issue for qualified institutional buyers, 35% for retail investors and 15% for NIIs.

Mamata Machinery mobilises ₹53 crore from anchor investors

According to a circular on BSE, the company allotted 22.04 lakh equity shares to seven funds at an upper price band of ₹243 apiece, bringing the transaction value to ₹53.56 crore.

Mamata Machinery IPO: Allotment and listing date

• Bidding period: December 19 to December 23
• Allotment finalisation: December 24
• Refund initiation: December 26
• Demat transfer: December 26
• Listing on the NSE and the BSE: December 27

Mamata Machinery offers end-to-end manufacturing solutions for the packaging industry. It sells its machines under the brand names 'Win' and 'Vega'.

The company's customers include Emirates National Factory for Plastic Ind LLC, Balaji Wafers Pvt Ltd, Sunrise Packaging, Chitale Foods, Om Flex India and Laxmi Snacks, among others.