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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
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 IPO

Qualified Institutional Buyer

Non-institutional Investor

Retail Individual Investor

Employee

Total

Offer size

15,126,750

4,538,025

10,588,725

345,517

30,599,017

No. of times issue subscribed

0.00x

0.62x

4.30x

0.21x

1.59x

*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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