Mamata Machinery is into Engineering Packaging Machinery sector and is looking raise funds through Offer for Sale
IPO Summary
Mamata Machinery IPO is a public offering of shares by Mahendra Patel, Chandrakant Patel, Nayana Patel, Bhagvati Patel, Mamata Group Corporate Services LLP and Mamata Management Services LLP. The IPO will open on December 19 and will close on December 23. The price band is ₹230 to ₹243 per share and the lot size is 61 shares. The issue size is ₹179.39 crore. The shares are expected to be listed on NSE, BSE on December 27 (^). Some additional information that you may find useful are: Share of revenues from Bag and Pouch/Co-Extrusion Blown Film Machinery/Packaging Machinery/Attachment and Spares/After Sales during 1QFY25 at 38.5%/0%/22.8%/31.8%/5.3% (v/s 63.4%/4.3%/4.8%/13.3%/3.2% in FY24 and 60.5%/10.4%/12.2%/13.8%/1.9% in FY23)Share of Exports during 1QFY25/FY24/FY23/FY22 at 70.4%/65.3%/71.5%/66.1%.: (**) - based on higher price band (^) indicative date
Promoters of the company are Mahendra Patel, Chandrakant Patel, Nayana Patel, Bhagvati Patel, Mamata Group Corporate Services LLP and Mamata Management Services LLP Currently promoters hold 92.45% stake in the company. While post-equity promoters stake will be 62.45%
- Company aims to raise between Rs 170 to 179 crs through this IPO.
- The net proceeds of the issue will be utilized to 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)
- Anchor bidding is expected to commence one day prior to the IPO dates. Tentative anchor bidding date would be 18-Dec-24.
- Price band for the IPO has been fixed at Rs 230 to 243 per share and bid lot are in multiple of 61 shares. The implied market cap post-issue at Rs 566 to 598 crs.
- As per the tentative schedule, allotment date of this IPO is most likely on December 24 and share are expected to be listed on NSE, BSE on December 27.
- Company has direct peer competition in India'a Packaging machinery Industry. In Listed space peers include Rajoo Engineers Limited, Windsor Machines Limited, Kabra Extrusion Technik Limited among others.
- Beeline Capital Advisors Private Limited has been appointed as Merchant Banker to the issue. Link Intime India Pvt. Ltd. has been appointed as official registrar of the issue.
Key Pointers of Mamata Machinery IPO:
About Mamata Machinery Limited
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.
Share of revenues from Bag and Pouch/Co-Extrusion Blown Film Machinery/Packaging Machinery/Attachment and Spares/After Sales during 1QFY25 at 38.5%/0%/22.8%/31.8%/5.3% (v/s 63.4%/4.3%/4.8%/13.3%/3.2% in FY24 and 60.5%/10.4%/12.2%/13.8%/1.9% in FY23)
Share of Exports during 1QFY25/FY24/FY23/FY22 at 70.4%/65.3%/71.5%/66.1%.
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.
| Mamata Machinery Limited IPO - Management Details: | |
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| Mahendra Patel, Chairman and Managing Director He holds a diploma in mechanical engineering from the Institution of Mechanical Engineers. He also holds a Master of Science degree in industrial engineering and administration from Cranfield Institute of Technology. He has been the past president of Ahmedabad Management Association. He has more than 40 years of experience in the engineering industry. | |
| Chandrakant Patel, Joint Managing Director He has been associated with our Company since 1990. He holds a Bachelor of Engineering degree from L.D College of Engineering. He has previously been associated with Museco Patel Valves and Controls Private Limited and Elecon Engineering Limited. He has more than 30 years of experience in the machine engineering industry | |
| Apurva Kane, Chief Executive Officer He has been associated with the company since 1986. He holds a bachelor’s degree in commerce from University of Delhi. He has over 40 years of experience in sales, marketing and strategic decision-making. He has previously been associated with Kuwait Maritime and Mercantile Company. He is responsible for strategic growth initiatives, expansion plans, sales and operation of the Company. | |
| Dipak Modi, Chief Financial Officer He has been associated with the company since 2000. He holds a bachelor’s degree in commerce from Gujarat University. He has over 24 years of experience in financial management. He is responsible for the accounts and finance departments of the Company. | |
| Madhuri Sharma, Company Secretary and Compliance Officer She has been associated with the company since 2014. She has been the Company Secretary and Compliance Officer of the company wef September 01, 2023. She holds a bachelor’s degree in Commerce from Gujarat University. She also holds a Bachelor’s degree in law from Gujarat University. She also holds a master’s degree in business administration with specialization in corporate law management and banking management from Indian School of Business Management and Administration. She has over 14 years of experience in secretarial, compliance and legal matters | |
| Dharmishth Patel, President MEI USA He has been associated with the company since 2003. He holds a bachelor degree in electrical engineering from University of Illinois. He also holds a diploma in mechanical engineering from Government Polytechnic, Ahmedabad. He also holds a diploma in automobile engineering (with inplant training) from Government Polytechnic, Amadavad. He has over 20 years of experience in engineering. He received a remuneration of 90,153 dollars from MEI USA in Fiscal 2024. | |
Visit DRHP / RHP for more details on Board of Directors and Management details.
| Mamata Machinery Limited - IPO Registrar & Transfer Agent (RTA): |
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| Link Intime India Pvt. Ltd. C-101, 247 Park, L.B.S. Marg, Vikhroli (West) Mumbai Maharashtra 400083 |
Check IPO Allotment status of Mamata MachineryIPO:
| Mamata Machinery Limited - Anchor Lockin Dates and Details | |
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| Anchor Investor Lockin (50% of Investment for 30 days) release of | |
| Anchor Investor Lockin (Balance Investment for 90 days) release of | |
Above information is automatically calculated based on estimations. Chances of errors/changes could be possible due to holidays and/or other conditions. Users are requested to Visit BSE, NSE, SEBI for more information or contact the Company/Merchant Banker/RTA for more information.
| Mamata Machinery Limited - Documents | |
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| Source: SEBI, BSE, NSE |
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