Mamata Machinery Limited raised ₹53.55 crore from anchor investors ahead of its public issue, according to an exchange filing by the company on Wednesday, December 18.
The company has allocated 22,04,113 or 22.04 lakh equity shares to the anchor investors at an allocation price of ₹243 per share, with a face value of ₹10 apiece.
The anchor investor pool for the Mamata Machinery Limited public issue comprises 3P India Equity Fund, Authum Investment and Infrastructure, Winro Commercial India, Subhkam Ventures, Chartered Finance and Leasing, Belgrave Investment Fund, and Aarth AIF.
According to the exchange filing by the company on Wednesday, the 3P India Equity Fund at 24.9 per cent, Authum Investment and Infrastructure at 13.51 per cent, Winro Commercial India at 13.51 per cent, Subhkam Ventures at 13.51 per cent, Chartered Finance and Leasing at 13.51 per cent, Belgrave Investment Fund at 11.34 per cent, and Aarth AIF at 9.73 per cent, were the allocation portions for the public issue.
“At the upper price band company is valued at P/E of 16.6x with a market cap of ₹ 5,979 million post issue of equity shares and return on net worth of 27.4% based on FY24. On the valuation front, we believe that the company is fairly priced compared to their peers. Therefore, we recommend a ‘Subscribe’ rating to the IPO,” said analysts at Anand Rathi Research Team on an IPO note.
Mamata Machinery IPO GMP
As of December 18, the grey market premium (GMP) for the Mamata Machinery IPO is at ₹150 per share. With the upper price band of the public issue at ₹243 per share, the company’s stocks are expected to hit Dalal Street at ₹393 apiece, a premium of 61.73 per cent, according to Investorgain.com.
Grey market premium (GMP) is an indicator of the investors’ willingness to pay more for a public issue. The GMP rose to its current level of ₹150 per share, from ₹111 per share, on December 17.
Mamata Machinery IPO Details
Mamata Machinery Limited is a manufacturer and exporter of plastic bags, pouches, packaging and extrusion equipment. The company caters for manufacturing solutions for the packaging industry in the FMCG, Food and Beverages sector.
The company has clients like 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 and N. N. Print & Pack Private Limited and Gits Food Products Private Limited and Emirates National Factory for Plastic Ind LLC.
The public issue is set to open on Thursday, December 19, and will close on Monday, December 23. The company has fixed the price band for the public issue at thew range of ₹230 to ₹243 per share with a lot size of 61 shares per lot.
The company is offering a full offer-for-sale (OFS) component deal of as many as 73,82,340 or 73.82 lakh equity shares. The IPO is expected to be listed on both the domestic stock indices on Friday, December 27.
