Three more IPOs to hit the Indian market next week — Mazagon Dock Shipbuilders, UTI AMC and Likhitha Infrastructure
- The IPO bonanza continues with more companies lining up in the coming week — Mazagon Dock Shipbuilders, UTI Asset Management and Likhitha Infrastructure.
- The grey market premium of all these upcoming IPOs may have taken a hit due to the recent market weakness, but that isn’t stopping these companies from launching their IPOs
- Here’s everything you need to know about Mazagon Dock Shipbuilders, UTI Asset Management, and Likhitha Infrastructure IPOs.
AdvertisementAfter five successful fundraisings in the past one month, the IPO bonanza continues with more companies in line — Mazagon Dock Shipbuilders, UTI Asset Management, and Likhitha Infrastructure Limited.
|IPO Pipeline||Opens On||Closes On|
|Mazagon Dock Shipbuilders||September 29||October 1|
|UTI Asset Management||September 29||October 1|
|Likhitha Infrastructure Limited||September 29||October 1|
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. Although the grey market premium of all these upcoming IPOs may have taken a hit due to the recent market weakness.
*As of Sept 25.
|Upcoming IPO||Grey Market Premium (per share)|
|UTI Asset Management||₹140-150|
|Likhitha Infrastructure Limited||₹15-20|
|Mazagon Dock Shipbuilders||₹80-90|
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 on September 29. 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.
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
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, the company said in a virtual press conference. The shares of the Mazagon Dock Shipbuilders are proposed to be listed on both the stock exchanges, BSE and NSE.
AdvertisementMazagon 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.
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.
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