Mamata Machinery's IPO Booked 38 Times; Retail Portion Booked Over 50.88 On Day 2

Investors' reaction to the Mamata Machinery IPO is excellent; on Friday, the second day of bidding, the first share sale was subscribed for more than 34 times.

According to NSE bid data , the Rs 179.39 crore received bids for 20,12 crore shares against 51.78 lakh shares on offer, resulting in a 38.86 times subscription.

Subscription across all categories

Compared to the 25,71,569 shares that were reserved for them, retail investors placed bids for 13,61,96,591 shares, booking their portion 52.96 times.

Compared to the 11,02,101 equity shares available, the non-institutional investors (NIIs) portion attracted 50.88 times the subscription with bids for 5,60,74,738 shares.

Due to bids for 69,67,420 shares as opposed to 14,69,557 shares reserved for qualified institutional buyers (QIBs), their quota was mopped up 4.74 times the subscription.

IPO size and structure

The IPO of Mamata Machinery is a book-built offering worth Rs 179.39 crores. The entire issue consists of a 0.74 crore share sale offer.

73,82,429 shares are offered in the Mamata Machinery IPO. QIB received 14,69,557 (19.91 per cent), NII received 11,02,101 (14.93 per cent), RII received 25,71,569 (34.83 per cent), employees received 35,000 (0.47 per cent), and anchor investors received 22,04,202 (29.86 per cent).

Price band and minimum bid

The price range for Mamata Machinery's IPO is between Rs 230 and Rs 243 per share.

An application must have a minimum lot size of 61. Retail investors must make a minimum investment of Rs 14,823. Both sNII and bNII require a minimum lot size investment of 14 lots comprising of 854 shares, or Rs 2,07,522, and 68 lots comprising 4,148 shares amounting to Rs 10,07,964, respectively.

Listing and subscription dates

Subscriptions for the Mamata Machinery IPO went live on December 19, 2024, and the bidding will end on December 23, 2024.

On Tuesday, December 24, 2024, the allocation for the Mamata Machinery IPO is anticipated to be finalized. Mamata Machinery's initial public offering (IPO) is scheduled to list on the BSE and NSE on Friday, December 27, 2024.

IPO proceeding utilisation

The Selling Shareholders will receive all of the Offer Proceeds after deducting the Offer-related costs, which will be borne by the Selling Shareholders. The Company will not receive any of the Offer Proceeds.