MEGA debut! Mamata Machinery shares list at whopping 147% premium
What's the story
Mamata Machinery, a leading packaging machinery manufacturer, has made an impressive debut on the National Stock Exchange(NSE) today.
The company's shares were listed at ₹600 per share, a whopping 147% premium over its initial public offering (IPO) price.
The stellar performance comes after its ₹179.39-crore IPO was overwhelmingly subscribed nearly 195 times.
Market worth
Mamata Machinery's market valuation post-IPO
After its shares got listed, Mamata Machinery's market valuation stands at ₹1,476.47 crore. The company's shares also debuted on the Bombay Stock Exchange (BSE) at a similar price of ₹600 per share.
The IPO price band was fixed at ₹230-243 per share, with the Gujarat-based company providing a complete Offer-for-Sale (OFS) of 73.82 lakh equity shares by promoters worth ₹179.38 crore at the top-end.
IPO goals
Mamata Machinery's IPO objectives and market response
Mamata Machinery's main goal with the maiden share sale was to capitalize on the advantages of listing equity shares on stock exchanges.
The company expected that the move would increase its visibility and brand image, offer liquidity to its shareholders, and create a public market for its equity shares.
On the listing day, Mamata Machinery's shares were commanding a GMP of about 107% in the unofficial market.
Growth prospects
Analysts' outlook on Mamata Machinery's future growth
Analysts remain optimistic about Mamata Machinery's growth, given its diverse product range, global presence, and leadership in packaging machinery technology.
They suggest holding onto Mamata Machinery shares for the long term, given the company's investments in research and development (R&D) and continuous innovation.
Prathamesh Masdekar, Research Analyst at StoxBox, recommends holding the stock from a medium- to long-term perspective, given Mamata Machinery's strong market presence.
Investor response
Mamata Machinery's IPO attracts significant investor interest
Mamata Machinery's IPO drew huge interest from investors during its three-day bidding period.
The retail investor category was subscribed 138.08 times, while the QIB segment was subscribed 235.88 times.
The NII category witnessed the most interest with a subscription of 274.38 times, reflecting strong market confidence in the company's prospects and performance.