- The bid /offer period will open on Thursday, December 19, 2024 and close on Monday, December 23, 2024
- The anchor investor bid/offer period opens and closes on Wednesday, December 18 2024.
- Bids can be made for a minimum of 61 Equity Shares and in multiples of 61 Equity Shares thereafter
- The company has an 87 strong research and development wing and spends between 5 and 6 percent of its topline for R&D
- The company’s export revenue consists of 65 to 70 percent and the rest from domestic sales
NE BUSINESS BUREAU
AHMEDABAD, DEC 16
City-based Mamata Machinery Limited, a packaging machinery manufacturer, on Monday announced that its initial public offer (IPO) subscription is scheduled for Thursday, December 19, and will close on Monday, December 23. The allocation to anchor investors will take place on Wednesday, December 18. The IPO price band has been fixed in the range of ₹230 to ₹243 per equity share of the face value of ₹10.
The IPO consists entirely of an offer for sale (OFS) that includes a maximum of 7.38 million shares from promoters and current shareholders. The total value of the issue will reach ₹179.39 crore.
The promoters of the company include Mahendra Patel, Chandrakant Patel, Nayana Patel, Bhagvati Patel, as well as Mamata Group Corporate Services.
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.
The company has an 87 strong research and development wing and spends between 5 and 6 percent of its topline for R&D.
Mamata Machinery IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. The employee portion has been reserved up to 35,000 equity shares. A discount of ₹12 per equity share is being offered to eligible employees bidding in the employee reservation portion.
The company produces and exports machines to over 75 countries for making plastic bags and pouches, as well as packaging machines and extrusion equipment. The firm offers comprehensive manufacturing solutions for the packaging sector. The machinery they produce is utilized in various industries for packaging applications, including the packaging of food and fast-moving consumer goods (FMCG).
The company’s export revenue consists of 65 to 70 percent and the rest from domestic sales.
The clientele of the company comprise Balaji Wafers Private Limited, Dass Polymers Private Limited, Jflexy Packaging Private Limited, Euphoria Packaging Private Limited, Sunrise Packaging, Om Flex India, Chitale Foods, V3 Polyplast Private Limited, Dhalumal Packaging Industries LLC, Laxmi Snacks Private Limited, Ganges Jute Private Limited, Western India Cashew Company Private Limited, N. N. Print & Pack Private Limited, Gits Food Products Private Limited, Emirates National Factory for Plastic Ind LLC, Dhwani Polyprints Private Limited, Kamakshi Suedpack Private Limited, Bansal Industries, and Hershey India Private Limited.
In the fiscal year 2024, the company announced revenue of ₹236.61 crore, an increase from ₹200.87 crore in the prior fiscal year. The net profit for this period grew to ₹36.13 crore, compared to ₹22.51 crore in the previous year.
Mamata Machinery share price is likely to be listed on BSE and NSE.
Beeline Capital Advisors Pvt Ltd serves as the book running lead manager for the Mamata Machinery IPO, whereas Link Intime India Private Ltd acts as the registrar for this issue.
