The initial public offering (IPO) of Mamata Machinery Ltd, which opened for bidding on December 19, is set to close today, December 23. The IPO has witnessed robust demand across investor categories, with an impressive subscription rate and a strong grey market premium (GMP), indicating high investor interest.
IPO Details:
- Bidding Period: December 19–23, 2024
- Price Band: ₹243 per share
- Issue Size: 51.78 lakh shares
- Grey Market Premium (GMP): ₹261 per share as of December 23
- Grey Market Price: ₹504 per share (107% premium over IPO price)
Subscription Status (as of Day 2):
The IPO has been subscribed 37.75 times in total, reflecting strong demand across all categories:
- Retail Individual Investors (RIIs): 51.03 times
- Non-Institutional Investors (NIIs): 50.23 times
- Qualified Institutional Buyers (QIBs): 4.74 times
GMP Signals Bullish Sentiment:
The GMP of ₹261 per share indicates a robust 107% premium over the issue price of ₹243. This suggests a potential listing price of ₹504 per share, implying that investors could see their investment value double upon listing.
