The initial public offering (IPO) of packaging machinery maker Mamata Machinery Ltd hit Dalal Street on Thursday. The bidding for Mamata Machinery IPO commenced on December 19 and will conclude on December 23. Mamata Machinery IPO got fully subscribed within minutes of opening amid heavy demand. 

Mamata Machinery IPO was subscribed 37.34 times by the end of the bidding process on its second day. The Qualified Institutional Buyers (QIB) segment was subscribed 4.74 times, the Non-Institutional Investors (NII) segment saw a subscription of 49.45 times, the Retail segment was subscribed 50.55 times, and the Employee quota was subscribed 53.97 times.

The equity shares of the company will be listed on BSE and NSE, likely on December 27. Mamata Machinery IPO price band has been set at ?230 to ?243 per share and the IPO lot size is 61 shares. At the upper-end of the price band, the company aims to raise ?179.39 crore from the book-built issue which is entirely an offer-for-sale (OFS) of 73.82 lakh equity shares.