India's Mamata Machinery surges on trading debut

Mamata Machinery

27/12/2024 08:29

** Mamata Machinery's  MAMA.NS  stock surges 159% to 630
rupees from IPO price of 243 rupees in trading debut
    ** Stock opened at 600 rupees
    ** Manufacturer of plastic bags and packaging machines is
valued at $181 million at current levels; it had targeted a
valuation of $70 million  
    ** MAMA's strong global presence, its consistent growth in
revenue and profit underscore its robust fundamentals - Shivani
Nyati, Head of Wealth at Swastika Investmart
    ** Company's 1.79-billion-rupee IPO was subscribed 195
times, exchange data shows
    

 (Reporting by Nishit Navin in Bengaluru)
 ((nishit.navin@thomsonreuters.com;))