03-Jul-2024
2 mins read
Mamata Machinery Private Limited filed a DRHP and will be coming up with its public issue in the upcoming time; the public issue will be offering a 100% book-built offer. This upcoming IPO is offering an Offer for Sale of up to 7,382,340 equity shares. The face value is reported as Rs. 10 for each share. This new IPO issue is being made through the book-building process with a reservation of not more than 50% of the new offer reserved for Qualified Institutional Investors, not less than 15% reserved for NII and the remaining 35% or more reserved for Retail Individuals. The exact dates for the IPO's subscription opening and closing, as well as the price band, will be announced soon. Beeline Capital Advisors Private Limited will serve as the book-running lead manager, and Link Intime India Private Limited is appointed as the registrar for this issue.
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About Mamata Machinery Private Limited
Mamata Machinery Private Limited manufactures and exports plastic bags and pouch-making machines, packaging machines, and extrusion equipment. They provide end-to-end manufacturing solutions for the packaging industry, catering to various applications such as food and FMCG product packaging. Their primary customers include direct consumer brands in the FMCG, Food & Beverage Industry, as well as converters and service providers. Their machines are also used in non-packaging applications like e-commerce and garment packaging bags. Established in 1989, they began with microprocessor-controlled bag-making machines and expanded to film extrusion machinery in 1997. By 1998, they were exporting to the European Union. They further expanded their operations to the U.S. in 2003 with Mamata Enterprises Inc. Their notable clients include Balaji Wafers, Dass Polymers, Jflexy Packaging, Euphoria Packaging, and more (As per DRHP).
Mamata Machinery Private Limited IPO Objectives
The company will not receive any proceeds as the public issue is an entirely Offer for Sale by the Shareholders. Each of the Selling Shareholders, i.e. Mahendra Patel, Chandrakant Patel, Nayana Patel, Bhagvati Patel, Mamata Group Corporate Services LLP and Mamata Management Services LLP, will be entitled to their respective proportion of the proceeds of the Offer for Sale after deducting their portion of the Offer related expenses and the applicable taxes thereon.
Financials of the Company
As of March 31, 2023, compared to March 2022, the company's assets increased by 5.61% to Rs 228.47 crore. However, revenue increased by 4.48% to Rs 200.87 crore, and profit after tax showed an increase of 3.72% to Rs 22.51 crore for the same period. Total borrowing decreased to Rs 18.63 crore from Rs 20.70 crore as compared to FY23 from FY22. These numbers show how the company's finances have been and where exactly there is a need to make strategic changes.
Lead manager(s), Registrar of IPO & Promoter(s) of the Company
The IPO is managed Beeline Capital Advisors Private Limited, which is the book-running lead manager of this public issue. Link Intime India Private Limited has been appointed as the registrar for the issue, while the company has Mahendra Patel, Chandrakant Patel, Nayana Patel, Bhagvati Patel, Mamata Group Corporate Services LLP and Mamata Management Services LLP as their promoter(s).
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