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

• The IPO was fully subscribed within 4 hours of opening. Whereas, its IPO peers 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.
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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.

*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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