D-Street to see Mamata Machinery, DAM Capital Advisors among 6 listings on Friday. Here's what GMP signals

After successful IPOs, the shares of Sanathan Textiles, Concord Enviro Systems, Newmalayalam Steel, DAM Capital Advisors, Transrail Lighting and Mamata Machinery will list on the exchanges on Friday.

Among these, Mamata Machinery and DAM Capital Advisors are commanding a robust GMP in the grey market, while the others, even though positive, lag a bit.

Ahead of the listing, Mamata Machinery is boasting a GMP of Rs 245, compared with an issue price of Rs 243, which is a premium of over 100%. Meanwhile, DAM Capital is trading with a GMP of 51% in the grey market.


The IPO of Mamata Machinery received massive response from investors with an overall subscription of 194 times at close. The Rs 179 crore IPO is completely an offer for sale (OFS) of up to 73 lakh shares.

Since the IPO is entirely an OFS, the proceeds from the offer will go to the selling shareholders.
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The public offer of DAM Capital too is an entirely OFS of 2.96 crore shares, which was subscribed 82 times. The proceeds for this IPO will also be received by selling shareholders.

Transrail Lighting, Concord Enviro and Sanathan Textiles are having a GMP of 37%, 14% and 24%, respectively. Newmalayalam Steel, which will be the sole SME listing tomorrow, is currently trading at 33% in the grey market.

The IPO of Transrail Lighting was booked 80 times, while Concord received bids 11 times higher than the shares on offer. The IPO of Sanathan Textiles received a healthy response from investors with an overall subscription of 36 times.

Concord proposes to use the net proceeds from the IPO towards various investments in its wholly-owned subsidiaries and other general corporate purposes.

Meanwhile, the funds from Sanathan Textiles IPO will be used for repayment of debt, investment in their subsidiary Sanathan Polycot and general corporate purposes.