New Delhi, Packaging equipment maker Mamta Machinery Ltd has filed preliminary papers with capital markets regulator SEBI to launch an initial public offering (IPO).
The Gujarat-based company's initial share sale is entirely an offer for sale (OFS) of 73.82 lakh equity shares by promoters, according to the draft red herring prospectus (DRHP).
Those selling shares under OFS include Mahendra Patel, Nayana Patel, Bhagwati Patel, Mamta Group Corporate Services LLP and Mamta Management Services LLP.
Since it is an OFS, the company will not receive any proceeds from the public issue, and the entire such proceeds will go to the selling shareholders.
The company said in its draft paper filed on Friday that the objective of the initial share sale is to avail the benefits of listing equity shares on stock exchanges.
Additionally, 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 manufactures and exports plastic bag and pouch making machines, packaging machines and extrusion equipment. It provides complete manufacturing solutions for the packaging industry. The company sells its machines under the brand names 'Vega' and 'Win'.
By May 2024, the company had installed more than 4,500 machines in 75 countries around the world.
The company offers a wide range of products covering the entire flexible packaging market value chain.
Beeline Capital Advisors Private Limited is the sole book running lead manager to the issue (BRLM).
The Gujarat-based company's initial share sale is entirely an offer for sale (OFS) of 73.82 lakh equity shares by promoters, according to the draft red herring prospectus (DRHP).
Those selling shares under OFS include Mahendra Patel, Nayana Patel, Bhagwati Patel, Mamta Group Corporate Services LLP and Mamta Management Services LLP.
Since it is an OFS, the company will not receive any proceeds from the public issue, and the entire such proceeds will go to the selling shareholders.
The company said in its draft paper filed on Friday that the objective of the initial share sale is to avail the benefits of listing equity shares on stock exchanges.
Additionally, 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 manufactures and exports plastic bag and pouch making machines, packaging machines and extrusion equipment. It provides complete manufacturing solutions for the packaging industry. The company sells its machines under the brand names 'Vega' and 'Win'.
By May 2024, the company had installed more than 4,500 machines in 75 countries around the world.
The company offers a wide range of products covering the entire flexible packaging market value chain.
Beeline Capital Advisors Private Limited is the sole book running lead manager to the issue (BRLM).
