The Rs 144-crore initial public offering (IPO) of Mazagon Dock Shipbuilders, the defence public sector undertaking, received strong response from investors. The allocation of shares in Mazagon Dock Shipbuilders IPO, which opened for subscription on September 29 and closed on October 1, will be finalised today.
The issue, that had a price band of Rs 135-145 per share, was subscribed 157.41 times, the highest-ever by a PSU entity. 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 will offload 15.17 per cent stake.
Shares of Mazagon Dock Shipbuilders are proposed to be listed on BSE and NSE on October 12, according to brokerages.
The 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.
Here's how to check Mazagon Dock IPO allotment status
On Alankit Assignments' web portal, the registrar to the IPO
Yes Securities, Axis Capital, Edelweiss Financial Services, DAM Capital Advisors and JM Financial are the managers to the offer.
The share allocation in UTI AMC is also expected to be finalised today and listing likely to happen on October 12. The Rs 2,160-crore IPO of UTI AMC received tepid response from retail investors as compared to Mazagon Dock IPO.
By Chitranjan Kumar
Also Read: UTI AMC IPO: How to check allotment status
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