Mamata Machinery IPO: The public offering received strong investor interest during the bidding period as the IPO was subscribed over 194 times on the last day of the bidding window (Monday).
The robust investor sentiment was also visible in its grey market premium (GMP) which touched Rs 260, commanding a triple-digit premium of over 107 per cent. GMP indicates the initial price level at which the company's shares trade in the grey market before hitting the official bourses.
The company is planning to raise Rs 179.39 crore via its initial share sale, which comprises only an offer for sale (OFS) of 0.74 crore shares, with no fresh issue. The company will be hitting the bourses on December 27 (Friday).
The non-institutional investors (NII) segment saw an impressive subscription of 274.38 times, while the qualified institutional buyers (QIBs) portion was subscribed 235.88 times. As for allotted quota for retail individual investors (RIIs), the segment witnessed a subscription of 138.08 times.
Is the company profitable?
The Ahmedabad-based company has witnessed a consistent rise in its profit levels, albeit at a slow pace. During FY23, Mamata Machinery clocked a profit of Rs 22.51 crore. In FY24, the figure surged to around Rs 36 crore. As for the revenue figure, the company witnessed its revenue increase from Rs 210 crore in FY23 to Rs 241 crore in FY24, marking a marginal year-on-year surge.
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