Mazagon Dock IPO: Share allotment finalised. How to check1 min read . Updated: 08 Oct 2020, 12:10 PM IST
- Mazagon Dock Shipbuilders IPO was subscribed a whopping 157.41 times
- The retail investors segment was subscribed 35.63 times
The allocation of shares in Mazagon Dock Shipbuilders IPO has been finalised. Investors who had applied can check the status of their application on the website of its registrar Alankit Assignments, which will manage the subscription and refund. The IPO of state-owned defence firm Mazagon Dock Shipbuilders was subscribed a whopping 157.41 times. The IPO had closed last week.
Shares of Mazagon Dock Shipbuilders are likely to get listed on BSE and NSE on on October 12, according to brokerages.
The share allocation in UTI AMC IPO will be finalised today, says the registrar of the issue. The listing may happen on October 12. Investors can check their application status on the website of KFintech Private Limited, the registrar of the UTI AMC IPO.
The ₹444 crore public offer of Mazagon Dock Shipbuilders received bids for 4,81,64,59,117 shares against 3,05,99,017 shares on offer. The retail investors segment was subscribed 35.63 times while the portion reserved for non-institutional investors was subscribed 678.88 times and qualified institutional buyers 89.71 times.
Mazagon Dock Shipbuilders sold shares in the range of ₹135-145 per share.
In the past, state-owned firms like IRCTC, Cochin Shipyard and Housing and Urban Development Corporation Ltd (HUDCO) received stellar response from investors for their initial public offers.
Yes Securities, Axis Capital, Edelweiss Financial Services, DAM Capital Advisors and JM Financial are the managers to the offer.
Mazagon Dock Shipbuilders is engaged in construction and repair of warships and submarines for use by the Indian Navy and other vessels for commercial clients, according to the red herring prospectus.
Garden Reach Shipbuilders and Engineers was the last shipbuilding PSU company to list on the exchanges in 2018. Prior to that, Cochin Shipyard got listed in 2017.
The government is selling shares constituting 15.17% of Mazagon Dock Shipbuilders pre-offer paid up equity share capital in this issue. Many analysts had given a subscribe recommendation to Mazagon Dock Shipbuilders, citing strong order book and attractive valuation. (With Agency Inputs)
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