Mamata Machinery delivers 2024's third biggest listing return. Should you buy now?
Mamata Machinery more than doubled investors' wealth on the listing, delivering a blockbuster debut — the third biggest debut return for any IPO this year — as 2024 draws to a close.
The company manufactures and exports plastic bags and pouch-making machines, packaging machines, and extrusion equipment. It provides end-to-end manufacturing solutions for the packaging industry.
The IPO witnessed an overwhelming response, with a massive subscription. Analysts said the company's strong global presence, including a manufacturing unit in the US, and its consistent growth in revenue and profit underscore its robust fundamentals.
«The company made a huge stock market debut, listing at a significant 147% premium over its issue price of Rs 243. Those who took part in the IPO may book part profit and choose to hold onto their shares while keeping a careful eye on the company's performance and the state of the market, as well as maintaining a stop loss at the 550,» said Shivani Nyati, Head of Wealth at Swastika Investmart.
Also Read: India's IPO storm to continue through 2025 with fundraising expected to cross Rs 2 lakh crore
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