IPO listing: Mamata Machinery shares debut at 147% premium; outperforms Transrail, DAM Capital, and others

Dalal Street witnessed flurry of new listings today as 5 main board companies made debut on the domestic bourses after collectively raising ₹2,900 crore via initial public offering (IPO) route. The list includes yarn manufacturer Sanathan Textiles, engineering and construction company Transrail Lighting, machines manufacturer Mamata Machinery, boutique investment bank DAM Capital Advisors, wastewater treatment solutions provider Concord Enviro Systems.

Among these five companies, Mamata Machinery registered best listing gains, with the stock debuting at ₹600, a premium of 147% over the IPO price of ₹243 on the NSE. It was followed by DAM Capital Advisors, which kicked of trading at ₹393, up 38.87% over the issue price of ₹283 per share.

The third on the chart was Transrail Lighting, with its shares listing at ₹590, up 36.57% over the IPO price of ₹432. Concord Enviro Systems shares also listed at a premium of 17.83% at ₹826, against the issue price of ₹701. Sanathan Textiles shares debuted 9.4% higher at ₹422.30 apiece over the IPO price of ₹321 on the NSE.

The premium listing of all these five companies were in sync with the positive broader market, with benchmarks Sensex and Nifty rising up to 0.7% in the first hour of trade so far.

The listing of Mamata Machinery was in line with market expectations as the stock was commanding strong premium in the listed market after its ₹179 crore IPO was subscribed 194.95 times. The issue received 138.08 times bidding in the retail category, 235.88 times in qualified institutional buyer segment, and 274.38 times in the non-institutional investor quota.

Meanwhile, the ₹840 crore issue of DAM Capital Advisors, led by renowned banker Dharmesh Mehta, was subscribed 81.88 times. While ₹839 crore issue of Transrail Lighting was booked 81.98 times, Concord Enviro and Sanathan Textiles’ IPOs were subscribed 10.67 times and 36.9 times, respectively.

December has turned out to be busiest month for the IPO market, with 11 companies listing so far, and 4 more are in line to make debut next week. All these 15 companies look to collectively raise around ₹25,000 crore.

The IPO count in December is the highest since February 2007, when 18 companies launched their public issue. This is the busiest month of the year in terms of volume, but third biggest in fundraising as October and November saw six and eight companies garnering ₹38,689 crore and ₹31,145 crore, respectively.

In the calendar year 2024, 91 main board IPOs raised a total of ₹1,59,676 crore, while the small and medium enterprises (SME) segment saw record 240 companies collectively garnering ₹8,753 crore by listing of their shares on the domestic bourses. The pipeline remains even stronger, with IPO fundraising expected to cross ₹2 lakh crore in 2025. As per the exchange data, 34 companies have received SEBI approvals to raise ₹41,462 crore, while 55 firms await clearance for ₹98,672 crore. The exchange data showed that 143 IPO documents were filed with the SEBI in 2024, compared to 84 in 2023 and 89 in 2022.

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