The share price of Mamata Machinery jumped 146.91% from the issue price of ₹243 to debut at ₹600. Investors showed a great deal of interest in the IPO, as it was oversubscribed 194.95 times. The business specializes in packing equipment and intends to expand and strengthen its clientele.The share price of Mamata Machinery made a spectacular start on the public exchanges today. In comparison to the issue price of ₹243, the shares opened for ₹600 per on the NSE and BSE, representing a 146.91% rise. The stock hit a 5% upper circuit limit on the exchanges after this robust start. The share price of Mamata Machinery was trading at ₹629.95 on the BSE and ₹630 on the NSE as of 11:24 IST today.
On Monday, the last day of the share sale, Mamata Machinery Ltd., a company that manufactures packaging machinery, saw an incredible 194.95 times subscription rate for its IPO. Qualified Institutional Buyers (QIBs) subscribed at a rate of 235.88 times, while the Non-Institutional Investors group had an exceptional 274.38 times subscription rate. The subscription rate for the section designated for Retail Individual Investors (RIIs) was 138.08 times.
The pricing range for this ₹179-crore IPO is ₹230 to ₹243 per share. Mamata Machinery Ltd declared on Wednesday that its anchor investors had contributed more than ₹53 crore. Offering a wide range of products that serve the whole flexible packaging market value chain, the company markets its goods under the brand names "Vega" and "Win" and provides comprehensive production solutions for the packaging industry.
The offer for sale (OFS), which includes up to 7.38 million shares from promoters and current owners, is the only component of the initial public offering (IPO). The offering will be worth ₹179.39 crore if it is priced in the upper price range. Mahendra Patel, Chandrakant Patel, Nayana Patel, Bhagvati Patel, and others are the company's promoters.with Mamata Group Corporate Services.
Forecast for Mamata Machinery's share price
According to Shivani Nyati, head of Swastika Investmart Ltd.'s Wealth business, the IPO's allure is increased by its appealing valuation. The company's stock market debut was impressive, since it was 147% higher than its issue price of ₹243. While keeping a close eye on the company's performance and the state of the market, investors who took part in the initial public offering (IPO) may decide to keep their shares and take some profits. They should establish a stop loss at ₹550.
Furthermore, Mamata Machinery has attracted a lot of attention from investors, according to Prathamesh Masdekar, a Research Analyst at StoxBox, whose IPO was oversubscribed by 194.95 times and is expected to launch at a premium of 107% over the top price band. To promote growth, the business is strategically concentrating on strengthening ties with its present clientele and expanding its product line in various geographical areas. The corporation intends to provide offerings that suit consumer tastes in order to draw in new clients and take advantage of new prospects within its product lines.
The company wants to meet growing customer demand while increasing efficiency and cutting costs by increasing production volumes and optimizing capacity usage. As a result, we recommend that investors who were given shares keep onto their investments for a medium to lengthy period of time.
According to Shivani Nyati, head of Swastika Investmart Ltd.'s Wealth business, the IPO's allure is increased by its appealing valuation. The company's stock market debut was impressive, since it was 147% higher than its issue price of ₹243. While keeping a close eye on the company's performance and the state of the market, investors who took part in the initial public offering (IPO) may decide to keep their shares and take some profits. They should establish a stop loss at ₹550.
Furthermore, Mamata Machinery has attracted a lot of attention from investors, according to Prathamesh Masdekar, a Research Analyst at StoxBox, whose IPO was oversubscribed by 194.95 times and is expected to launch at a premium of 107% over the top price band. To promote growth, the business is strategically concentrating on strengthening ties with its present clientele and expanding its product line in various geographical areas. The corporation intends to provide offerings that suit consumer tastes in order to draw in new clients and take advantage of new prospects within its product lines.
The company wants to meet growing customer demand while increasing efficiency and cutting costs by increasing production volumes and optimizing capacity usage. As a result, we recommend that investors who were given shares keep onto their investments for a medium to lengthy period of time.
0 Comments