Mazagon Dock Shipbuilders IPO fully subscribed on day one — led by robust retail demand

Mazagon Dock Shipbuilders IPO fully subscribed on day one — led by robust retail demand
INS Delhi built by Mazagon Dock Limited in Mumbai
The state-owned Indian Naval shipbuilding firm Mazagon Dock Shipbuilders witnessed a stellar response from investors on the first day of subscription. The IPO was fully subscribed within 4 hours of opening, and by the end of the trading today, the offer was subscribed 159%. Whereas, UTI AMC was subscribed 24% and Likhitha Infrastructure was subscribed 75% in the same period.

On the first day, it received bids for 4.8 crore equity shares against the offered size of 3.05 crore shares, according to the stock-exchanges data.

Mazagon Dock IPOQualified Institutional BuyerNon-institutional InvestorRetail Individual InvestorEmployee Total
Offer size15,126,7504,538,02510,588,725345,51730,599,017
No. of times issue subscribed 0.00x0.62x4.30x0.21x1.59x
*Data as of Sept. 29 3:30pm

The qualified institutional buyers have yet not started bidding for the IPO. However, the retail investors' portion saw a strong response and was subscribed 4.30 times by the end of the day itself. The employees' portion was subscribed 21%, and the non-institutional investors saw a 32% subscription.

What does the grey market premium entail?

Mazagon Dock grey market premium was trading at ₹140-₹150 apiece, which is the highest among other IPOs that are currently open for subscription. UTI AMC and Likhitha Infrastructure were trading at a premium of ₹60 and ₹10, respectively, as of September 29.


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