Mamata Machinery IPO: Price band set at ₹230-243 per share; check issue details, key dates, more
- Mamata Machinery IPO price band is set between ₹230 and ₹243 per share. Subscription opens on December 19 and closes on December 23, with anchor investor allocation on December 18.
Mamata Machinery IPO price band: The Mamata Machinery IPO price band has been fixed in the range of ₹230 to ₹243 per equity share of the face value of ₹10. The Mamata Machinery IPO date of subscription is scheduled for Thursday, December 19, and will close on Monday, December 23. The allocation to anchor investors for the Mamata Machinery IPO is scheduled to take place on Wednesday, December 18.
The floor price is 23 times of the face value and the cap price is 24.30 times of the face value. The price to earnings ratio based on diluted EPS for fiscal 2024 at the upper end of the price band is 16.59 times. As compared to the average industry peer group PE group PE ratio of 43.90 times. The Mamata Machinery IPO lot size is 61 equity shares and in multiples of 61 equity shares thereafter.
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.
Tentatively, Mamata Machinery IPO basis of allotment of shares will be finalised on Tuesday, December 24, and the company will initiate refunds on Thursday, December 26, while the shares will be credited to the demat account of allottees on the same day following refund. Mamata Machinery share price is likely to be listed on BSE and NSE on Friday, December 27.
The company produces and exports machines 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).
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The company mainly sells its packaging equipment to direct consumer brands in the FMCG, Food, and Beverage sectors, while the bag and pouch making machines are sold to converters and service providers who primarily serve the FMCG and consumer markets.
The clientele of the company consists of 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.
As per the red herring prospectus (RHP), the company's listed peers are Rajoo Engineers Ltd (with a P/E of 57.16), Windsor Machines Ltd, and Kabra Extrusion Technik Ltd (with a P/E of 30.64).
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 IPO details
The IPO consists entirely of an offer for sale (OFS) that includes a maximum of 7.38 million shares from promoters and current shareholders. If priced at the highest band, 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
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.
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