Mamata Machinery IPO subscribed over 34 times on Day 2, retail investors, NIIs lead; check key dates

Mamata Machinery IPO is witnessing a great response from investors, with the initial share sale being subscribed over 34 times on Friday, the second day of bidding.

The ₹179.39 crore got bids for 17.65 crore shares against 51.78 lakh shares on offer, leading to a 34.09 times subscription, according to the NSE data till 3:46 pm.

Retail investors booked their portion 46.88 times as they placed bids for 12,05,65,646 shares compared to the 25,71,569 shares reserved for them.

Non-institutional investors (NIIs) part attracted 45.26 times subscription with bids for 4,98,81,103 shares compared to 11,02,101 equity shares on offer.

The qualified institutional buyers' (QIBs) quota mopped up 2.95 times subscription as it received bids for 43,36,246 shares compared to 14,69,557 shares set aside for them.

Mamata Machinery IPO lot size

Investors can apply for at least one lot size or 61 shares, needing ₹14,823 investment.

Half of the net issue has been reserved for QIBs, 35% for retail investors and the remaining 15% for NIIs.

Prior to the IPO, the company had collected ₹53 crore from anchor investors, including Authum Investment and Infrastructure, 3P India Equity Fund, Aarth AIF, Winro Commercial (India) Ltd, Subhkam Ventures, Belgrave Investment Fund and Chartered Finance and Leasing.

Mamata Machinery IPO: Key dates

• Subscription period: December 19 to December 23
• Finalisation of allotment: December 24
• Initiation of refund: December 26
• Demat transfer: December 26
• Listing: December 27

About Mamata Machinery

Mamata Machinery is the production of machines for making plastic bags, packaging, pouches and extrusion equipment. The company sells its machines under the brand names - 'Vega' and 'Win'.

Its clients include Balaji Wafers Pvt Ltd, Emirates National Factory for Plastic Ind LLC, Chitale Foods, Sunrise Packaging, Om Flex India and Laxmi Snacks, among others.