Mamata Machinery IPO Makes a Stellar 147% Debut, Hits 5% Upper Circuit on Listing Day

Mamata Machinery made a remarkable debut on the stock exchanges today, December 27, 2024. The shares were listed at ₹600, representing a 146.91% premium over the issue price of ₹243.

Following the listing, the stock quickly reached the 5% upper circuit limit, trading at ₹629.95 on the BSE and ₹630 on the NSE.

The company's initial public offering (IPO) was met with significant investor interest, being oversubscribed 194.95 times. The IPO, valued at ₹179 crore, was open for subscription from December 19 to December 23, 2024, and was entirely an offer for sale of 7.38 million shares by promoters and existing shareholders.

Mamata Machinery specializes in manufacturing packaging machinery and has a strong focus on quality and innovation. The company plans to enhance relationships with existing customers and expand its product range across different regions to drive growth.