Mumbai: Mamata Machinery Limited (MML) is opening its Initial Public Offering (IPO) priced at Rs 230 to Rs 243 per equity share – aggregating Rs 178.39 crores – which will open on December 19 and close on December23, 2024.
The total Offer Size of equity shares comprises of Offer for Sale up to 7,382,340 shares by the Promoter Selling Shareholders.
Describing the 35-year-old Company as the “first in Gujarat to get ISO certification”, he said here recently that it is the third largest exporter of plastics-related machinery in India, with its machinery global footprint in 75 countries, and sales agents in Europe, South Africa and Asia.
“Our Revenue is well-diversified and we are not dependent on a single geography as they all generate equal amount of sales,” he said.
“We have taken to technological integration with the ability to process recyclable films,” he said while highlighting one product – Extrusion Blown Film – that uses nine layers of plastic for protection of the film from oxygen and moisture.
“The share-selling Promoters are unlocking value while holding substantial shares in the Company, which is set to grow robustly financially this year,” he said.
To a question, he said while every economy is recycling itself – including the U.S. which survived the “meltdown” with growth instead, MML is capable of meeting the ‘headwinds.’
“Every FMCG customer of ours is planning expansion in the next one to three years,” he added.
The Equity Shares are proposed to be listed on BSE and NSE stock exchanges. Beeline Capital Advisors Private Limited is the book running lead manager to the Offer.
