Mamata Machinery IPO opens on December 19; check price band, lot size & other details

The initial public offering (IPO) of Mamata Machinery shall open for bidding Thursday, December 19. The company shall be offering its shares in the range of Rs 230-243 apiece. Investors can bid for the issue until Monday, December 23, applying for a minimum of 61 equity shares and its multiples thereafter.

Incorporated in April 1979, Ahmedabad-based Mamata Machinery manufactures and exports machines for making plastic bags, pouches, packaging, and extrusion equipment. It provides manufacturing solutions for the packaging industry, catering mostly to FMCG and food & beverage industries.

The IPO of Mamata Machinery is entirely an offer-for-sale (OFS) upto 73,82,340 equity shares by the promoters- Mahendra Patel, Nayana Patel, Bhagvati Patel, Mamata Group Corporate Services and Mamata Management Services. At the upper end of the price band, the company is looking to raise a total of Rs 179.35 crore. The company will not receive any proceeds from the issue.

Mamata Machinery's customers include Balaji Wafers, Dass Polymers, Jflexy Packaging, Euphoria Packaging, Sunrise Packaging, Om Flex India, Chitale Foods, V3 Polyplast, Dhalumal Packaging Industries LLC, Laxmi Snacks, Ganges Jute, Western India Cashew Company and NN Print & Pack and Gits Food Products and Emirates National Factory for Plastic Ind LLC.

Mamata Machinery has exported machines to over 75 countries as of May 31, 2024. It has international offices in Bradenton, Florida, and Montgomery, Illinois, as well as sales agents in over five countries across Europe, South Africa, and Asia.. The company has two machine manufacturing facilities, one in India and one in the USA.

Mamata Machinery reported a net profit of Rs 2.18 crore with a revenue from operations at 27.62 crore for the three-months ended June 30, 2024. The company clocked in a net profit of Rs 36.13 crore with a revenue of Rs 236.61 crore for the financial year ended on March 31, 2024. Anchor book for the issue opens Wednesday, December 18.

Mamata Machinery has 35,000 equity shares for the eligible employees of the company, who will get a discount of Rs 12 apiece during the IPO. The company has reserved 50 per cent of the net offer for qualified institutional bidders (QIBs), 15 per cent for non-institutional investors (NIIs) and 35 per cent for retail investors.

Beeline Capital Advisors is the book running lead manager of the Mamata Machinery IPO, while Link Intime India is the registrar for the issue. Shares of the company shall be listed on both BSE and NSE with December 27, Friday as the tentative date of debut.