Mazagon Dock Shipbuilders share is likely to nearly double investors' wealth during its listing on October 12. The grey market premium for the stock of Mazagon Dock Shipbuilders is hovering in the range of Rs 110 to Rs 114. This implies the share is likely to list at Rs 259, a gain of 78% over upper end of price band of Rs 135 to Rs 145.
That would replicate the market debut of Happiest Minds Technologies which listed with a gain of 111% on September 17 on BSE and NSE. The share opened at Rs 351 delivering investors return of Rs 185 or 111% compared to IPO price band of Rs 165-Rs 166 per equity share.
Mazagon Dock Shipbuilders IPO opened for subscription on September 29 and closed on October 1.
The IPO was subscribed 157.41 times, the highest-ever by a PSU entity. Mazagon Dock Shipbuilders IPO received bids for 481.65 crore shares compared to issue size of 3.05 crore shares. The portion reserved for retail investors was subscribed 35.63 times, while the quote for non-institutional investors was subscribed 678.88 times and qualified institutional buyers 89.71 times.
The IPO comprised 3,05,99,017 shares through an offer for sale (OFS). The government which has 100 per cent stake in the company is selling 15.17 per cent stake.
Shares of Mazagon Dock Shipbuilders will be listed on BSE and NSE.
Meanwhile, allotment of shares to the applicants of Mazagon Dock Shipbuilders IPO was done on October 7.
Here's how to check if you have been allotted shares from Mazagon Dock IPO.
On Alankit Assignments' web portal, the registrar to the IPO
- Go to the online portal
- Click on the drop-down menu and select the company name as Mazagon Dock Shipbuilders in the drop-down menu of the investor's centre section.
- Enter your Permanent Account Numbers (PAN) or application number or Client ID.
- After entering the given captcha code, investors can click on submit button and view their allotment status.
- Applicants can also check their IPO allotment status on the BSE website.
- Select Equity and then from the dropdown, select issue name- Mazagon Dock.
- Enter your Permanent Account Numbers (PAN) or application number and click Search.
By Aseem Thapliyal