Mamata Machinery is into Engineering Packaging Machinery and is looking raise funds through Offer for Sale
Mamata Machinery IPO: Mamata Machinery Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 10 per share via initial public offering.
Promoters of Mamata Machinery are Mahendra Patel, Chandrakant Patel, Nayana Patel, Bhagvati Patel, Mamata Group Corporate Services LLP and Mamata Management Services LLP and holds 92.45% stake in the company.
Key Details:
- Initial Public Offer comprising of a Offer for Sale of 7,382,340 Equity shares.
- Beeline Capital Advisors Private Limited have been appointed as lead merchant bankers for the proposed IPO.
- It has appointed Link Intime India Pvt. Ltd. as Registrar and Share transfer Agent.
- Company is yet to finalize issue size and some other important details relating to the IPO.
Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Equity Shares offer-for-sale (OFS) of up to 7,382,340 equity shares by Promoter selling shareholders are Mahendra Patel, Nayana Patel, Bhagvati Patel, Mamata Group Corporate Services LLP and Mamata Management Services LLP who will offload Up to 534,483 Equity Shares, Up to 1,967,931 Equity Shares, Up to 1,227,042 Equity Shares, Up to 2,129,814 Equity Shares and Up to 1,523,070 Equity Shares respectively...
Objects of the issue:
Company will not receive any proceeds from the Offer. The objects of the Offer are to (i) achieve the benefits of listing the Equity Shares on the Stock Exchange (ii) carry out the Offer for Sale (OFS).
About Company:
Mamata Machinery Ltd. established in 1989 is into manufacturing and export of plastic bags and pouch making machines, packaging machines and extrusion equipments. Machineries are also utilised in non-packaging applications, such as e-commerce bags and garment packaging bags. It also provides after-sales service to our customers. It sells machines to FMCG, Food, & Beverage Industry and bag and pouch making machines to convertors and service providers who, in turn, mainly catering the FMCG and consumer industry.
Factory in Ahmedabad spread across 12,000 sq.mt. land area (on a total land area of 20,662 sq.mt) giving further scope for expansion in the future.
About Industry:
Currently, Indian packaging sector is dominated by rigid packaging segment. However, the penetration of flexible packaging materials is increasing steadily. As per industry sources, the market size of global packaging machinery market was estimated to value at USD 46.8 Bn in 2022 which is slated to grow to USD 60.8 Bn by 2028, witnessing 4.5% CAGR increase between 2022-28. The export of packaging machinery has displayed a remarkable trajectory over the given years. In FY 2019, the export value stood at INR 13.9 billion, and by FY 2023, it reached an impressive INR 23.8 billion. The CAGR over this period stands at a remarkable 14%, indicative of sustained and substantial growth. The flexibility in transportation and storage along with superior barrier properties is helping in the growth of flexible packaging materials. With demand for products like packaged food and personal care products increasing, usage of flexible packaging materials – which is the preferred packaging material in food & beverage industry – would increase.
Source: SEBI, BSE, NSE, DRHP, Mamata Machinery, Industry Data
Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.
Posts
0 Comments