By laksh5382 
New Delhi, December 23 (Language) The initial public offering of packaging machinery maker Mamta Machinery Limited was subscribed 194.95 times on the last day of share sale on Monday.
According to NSE data, the initial share sale of Rs 179 crore received bids for 1,00,94,81,802 shares, while there were 51,78,227 shares on offer.
The portion of non-institutional investors was subscribed 274.38 times, while the portion of qualified institutional buyers (QIBs) was subscribed 235.88 times. The retail individual investors (RII) portion was subscribed 138.08 times.
The price range of the IPO is Rs 179 crore. 230-243 per share.
Mamta Machinery Limited said on Wednesday that it has increased Rs 53 crore from anchor investors.
The Gujarat-based company’s initial share sale is entirely an offer for sale (OFS) of 73.82 lakh equity shares by promoters. Rs 179.38 crore at the upper end of the price band.
Since it is an OFS, the company will not receive any proceeds from the public issue, and the entire funds will go to the selling shareholders.
The company said the objective of the initial share sale is to capture the benefits of listing equity shares on stock exchanges.
The company anticipates that listing the equity shares will boost its visibility and brand image, provide liquidity to its shareholders and establish a public market for the equity shares.
Mamta Machinery provides complete manufacturing solutions for the packaging industry. The company sells its machines under the brand names ‘Vega’ and ‘Win’. It offers a wide range of products, serving the entire flexible packaging market value chain.
Beeline Capital Advisors is the sole book-running lead manager to the issue.
The equity shares will be listed on BSE and NSE.