After whopping listing gains, Mamata Machinery settles over 159% higher on debut day

Mamata Machinery after garnering whopping subscription made decent debut on the exchanges on Friday (December 27). On both the exchanges, the stock debuted at a premium of a stellar 147 per cent at Rs 600, as against the issue price of Rs 243 per share.

However, at the close, the stock ended marvellously, even higher than the listing price at Rs 629.95, marking a substantial gain of over 159 per cent.

The industrial products company raked in the highest subscription of 194.95 times among all the five issues that are to list today including Transrail Lighting, DAM Capital, Sanathan Textiles and Concord Enviro.   

Prashanth Tapse, Senior VP (Research), Mehta Equities giving out his pre-listing view said, “Despite a downtrend in the stock market last week, but on a final-day rush Mamata Machinery received a massive response from all sets of investors with an overall subscription of 194 times. We believe the demand was on the back of reasonable valuations keeping good listing gains on table for new investors."

Considering market sentiments and massive subscription demand, we expect the company can list with strong listing gain with high probability of delivering nearly 100 per cent return on its issue price.

We recommend conservative allotted investors can think of booking profits above our expectations. While long term investors should consider to HOLD IT FOR LONG TERM despite knowing short term volatility & risk in the markets. For non-allotted investors, we advise to accumulate if we get dips post listing due to profit booking attempts, he added.

Mamata Machinery's IPO details

The launched a Rs 179.39 crore IPO book-built issue that comprised entirely an offer-for-sale (OFS) component of 0.74 crore shares. The subscription period of the issue opened on December 19, 2024 and concluded on December 23, 2024.