Mamata Machinery IPO to open on 19 December

Mamata Machinery announced a price band of INR 230-243 per share for its upcoming initial public offering (IPO), which will open for subscription on 19 December 2024.

The IPO is an offer for sale (OFS) comprising up to 7.38 million shares by promoters and existing shareholders. At the upper price band, the issue size will be INR 179.39 crore.

Mamata Machinery is a leading manufacturer and exporter of plastic bag and pouch-making machines, packaging machinery, and extrusion equipment. It provides end-to-end manufacturing solutions for the packaging industry. Some of its customers include Balaji Wafers, Dass Polymers, Jflexy Packaging, Euphoria Packaging, Sunrise Packaging, Om Flex India, Chitale Foods, V3 Polyplast, Laxmi Snacks, Western India Cashew Company, Hershey India, and many others.

The company operates two manufacturing facilities. The Indian facility, located on the Sarkhej-Bavla Highway in Sanand, Ahmedabad, spans 20,662 square metres and includes an in-house electronics department, a demo centre, and a fully equipped paint shop. The US facility, based in Bradenton, Florida, focuses on product application development and machine customisation for the American market.

Anchor investors will submit bids starting on 18 December 2024, with the issue closing on 23 December 2024. Finalisation of the allotment on 24 December, refunds and credit of equity shares to demat accounts on 26 December, and listing on stock exchanges on 27 December.