Mazagon Dock, UTI AMC and Likhitha Infrastructure IPOs open today

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  • The IPO bonanza continues with more companies lining up — Mazagon Dock Shipbuilders, UTI Asset Management and Likhitha Infrastructure are now open for investors subscription.
  • Here’s everything you need to know about Mazagon Dock Shipbuilders, UTI Asset Management, and Likhitha Infrastructure IPOs.
  • Check out the latest news and updates on Business Insider.
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The IPOs for Mazagon Dock Shipbuilders, UTI Asset Management, and Likhitha Infrastructure Limited are now open for subscription.

These IPOs are coming at a time when the markets are flush with liquidity, and the preceding issues like Happiest Minds Tech, Route Mobile, CAMS have been oversubscribed at record levels.

IPO PipelineOpens OnCloses On
Mazagon Dock ShipbuildersSeptember 29October 1
UTI Asset ManagementSeptember 29October 1
Likhitha Infrastructure LimitedSeptember 29October 1

Although the grey market premium of all these upcoming IPOs may have taken a hit due to the recent market weakness.

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Upcoming IPOGrey Market Premium (per share)
UTI Asset Management₹55-60
Likhitha Infrastructure Limited₹5-₹10
Mazagon Dock Shipbuilders₹ 125-130
*As of Sept 29.

Here’s everything you need to know about these IPOs:

UTI Asset Management ₹2,160 crore IPO

Mutual fund manager UTI Asset Management Company (AMC) ₹2,160 crore IPO will open for public subscription today. The company has fixed a price band of ₹552-554 per share for its IPO that will close on October 1. The company said the bidding for anchor investors would open on September 28.

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Ahead of the IPO, UTI AMC garnered over ₹644.64 crore from several anchor investors including Morgan Stanley, Invesco Trustee, Avendus, Tara Emerging Asia Liquid Fund, Goldman Sachs, Nomura Singapore, HSBC, Kotak Funds, PGIM India among others to name a few.

The UTI Asset Management Company will compete against its likes — Nippon Life India Asset Management and HDFC AMC on the stock exchanges. The shares of the UTI AMC will list on both the stock exchanges, BSE and NSE. The 17-year old company has some marquee names in its shareholder’s list, such as— SBI, LIC, Punjab National Bank, Bank of Baroda, and the US-based T Rowe Price.

Mazagon Dock Shipbuilders ₹444 crore IPO

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The state-owned defence firm Mazagon Dock Shipbuilders ₹444 crore initial public offering will open for bidding on September 29. The company has set the price band for the at ₹135-145 per share.

The issue will close for subscription on October 1. Mazagon Dock Shipbuilders is engaged in the construction and repair of warships and submarines for use by the Indian Navy and other vessels for commercial clients.

Likhitha Infrastructure Limited ₹61.2 crore IPO

A Hyderabad-headquartered oil and gas pipeline infrastructure service provider Likhitha Infrastructure ₹61.2 crore IPO will hit the primary market on September 29.
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The company has set the price band for IPO at ₹117-120, and the public offer will remain open until October 1. The company has a strong client base such as ONGC, HCG, Indian Oil, GAIL, among others, to name a few. The minimum bid for the IPO has been set at a lot of 125 shares or in multiples thereof.

The company has a strong financial record with its revenue growing at a compound annual growth rate of 22% and the profit at 41% during FY18-FY20. Likhitha Infrastructure Limited order book as of July was approximately ₹950 crore.

SEE ALSO: UTI AMC’s ₹2,160 crore IPO opens today — Here’s all you need to know

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