look news india
Mamata Machinery IPO : For the last few years, companies have been entering the stock market through IPO. This trend will continue in the year 2024 as well. In this regard, Gujarat-based packaging manufacturer Mamta Machinery Limited has filed preliminary documents for IPO with SEBI.
No proceeds from share sale
According to the draft IPO documents (DRHP), the IPO of the Gujarat-based company is based on the sale of 73.82 lakh equity shares (OFS) by the entire promoters. Those selling shares through OFS include Mahendra Patel, Naina Patel, Bhagwati Patel, Mamta Group Corporate Services LLP and Mamta Management Services LLP. This IPO is an OFS so the company will not get any proceeds from it. Beeline Capital Advisors Private Limited is the sole book running lead manager to the issue (BRLM).
About the Company
Mamta Machinery manufactures and exports plastic bag and pouch making machines, packaging machines. It provides complete manufacturing solutions for the packaging industry. The company sells machines under the brand names Vega and Win. As of May 2024, the company has more than 4500 machines installed in 75 countries across the world. The company has been active in the industry since 1989. It is the first Indian company to introduce plastic bag making machines with stepper motors, drives and microprocessor controllers and without the traditional clutch-brake, rack-pinion assembly.
3 new IPOs are coming next week
It is worth noting that next week three companies are going to launch IPOs to raise more than 2700 crores. Ambe Laboratories is the only SME issue while Emcure Pharmaceuticals and Bansal Wire are IPOs of the manboard segment. So, the stock market will see the listing of 11 IPOs including Allied Blenders and Vraj Iron & Steel.