Packaging gear producer Mamata Equipment Ltd has filed preliminary papers with capital markets regulator Sebi to drift an preliminary public providing (IPO).

The Gujarat-based firm’s preliminary share sale is fully a proposal on the market (OFS) of 73.82 lakh fairness shares by promoters, in accordance with the draft pink herring prospectus (DRHP).

These promoting shares underneath the OFS are Mahendra Patel, Nayana Patel, Bhagvati Patel, Mamata Group Company Companies LLP, and Mamata Administration Companies LLP.

Because it’s an OFS, the corporate is not going to obtain any proceeds from the general public subject, and your complete fund such proceeds will go to the promoting shareholders.

The corporate, in its draft papers filed on Friday, stated that the target of the preliminary share sale is to achieve the benefits of itemizing the fairness shares on the inventory exchanges.

Moreover, the corporate anticipates that itemizing the fairness shares will increase its visibility and model picture, present liquidity to its shareholders, and set up a public marketplace for the fairness shares.

Mamata Equipment manufactures and exports plastic baggage and pouch-making machines, packaging machines and extrusion gear. It supplies end-to-end manufacturing options for the packaging business. The corporate sells its machines underneath the model names ‘Vega’ and ‘Win’.

As of Might 2024, the corporate put in over 4,500 machines in 75 nations around the globe.

The corporate provides a complete vary of merchandise serving your complete versatile packaging market worth chain masking.

Beeline Capital Advisors Personal Restricted is the only E book Working Lead Supervisor to the Difficulty (BRLM).

First Printed: Jun 30 2024 | 12:07 PM IST