Mamata Machinery IPO: For the last few years, companies have been continuously entering the stock market through Initial Public Offering (IPO). This trend continues in the year 2024 also. In this series, Gujarat’s packaging equipment manufacturer Mamta Machinery Limited has submitted preliminary documents for IPO with the Securities and Exchange Board of India (SEBI).
There will be no income from share sale
The Gujarat-based company’s IPO is entirely based on an offer for sale (OFS) of 73.82 lakh equity shares by promoters, according to the draft IPO documents (DRHP). Those selling shares under OFS include Mahendra Patel, Nayana Patel, Bhagwati Patel, Mamta Group Corporate Services LLP and Mamta Management Services LLP. Since it is OFS, the company will not make any earnings from the IPO. 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 its machines under the brand names ‘Vega’ and ‘Win’. As of May, 2024, the company has installed more than 4,500 machines in 75 countries across the world. This company has been active in the industry since 1989. It is the first Indian company to introduce plastic bag making machines with stepper motor, drive and microprocessor controller and without the traditional clutch-brake, rack-pinion assembly.
