Mamata Machinery files for IPO

Gujarat-based packaging equipment manufacturer Mamata Machinery Ltd has filed draft documents with the Securities and Exchange Board of India (Sebi) to launch its initial public offering (IPO). The company’s IPO will consist entirely of an offer for sale (OFS) of 73.82 lakh equity shares by its promoters.

As an OFS, Mamata Machinery Ltd will not receive any proceeds from the public issue. Instead, all funds raised will go to the selling shareholders, including Mahendra Patel, Nayana Patel, Bhagvati Patel, Mamata Group Corporate Services LLP, and Mamata Management Services LLP, who are divesting their shares through the IPO.

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In its draft IPO papers, the company stated that the primary objective of the share sale is to gain the advantages of listing the equity shares on the stock exchanges. The listing is expected to boost the company’s visibility and brand image, provide liquidity to its shareholders, and establish a public market for the equity shares.

Mamata Machinery specialises in manufacturing and exporting plastic bags, pouch-making machines, packaging machines, and extrusion equipment, offering complete manufacturing solutions for the packaging industry. Its products are marketed under the brand names ‘Vega’ and ‘Win’. As of May 2024, Mamata Machinery has installed over 4,500 machines across 75 countries.

The company provides a wide range of products catering to the entire flexible packaging market value chain. Beeline Capital Advisors Private Limited serves as the sole Book Running Lead Manager to the issue (BRLM).