Mazagon Dock, UTI AMC IPOs: Final Day Subscription Updates
While investors rushed to buy shares of Mazagon Dock Shipbuilders Ltd., UTI Asset Management Co.'s initial public offering comparatively received muted response on the final day of bidding.
The state-run builder of warships, submarines and commercial vessels’ IPO subscribed over 137.5 times. The defence public sector undertaking plans to raise Rs 444 crore through the maiden offer, the price band for which has been set at Rs 135-145 apiece, according to its red herring prospectus.
Meanwhile, the maiden issue of the mutual fund managed to garner nearly 2 times subscriptions for shares on offer. UTI AMC’s offer-for-sale of up to 3.89 crore shares aims to fetch selling shareholders around Rs 2,150 crore at Rs 552-554 apiece.
Here are the subscription figures:
Mazagon Dock Shipbuilders
The public offer was subscribed 152.7 times at the end of bidding on the final data, according to a company statement. The offer was the most-subscribed IPO by any public sector firm.
Institutional subscription: 89.71 times
Non-institutional investor subscription: 678.9 times
Retail subscription: 35.6 times
Employees: 3.88 times
UTI Asset Management
The maiden issue was subscribed 2.3 times on the final day of bidding, according to data available with the stock exchanges till 5 p.m.
Institutional subscription: 3.33 times
Non-institutional investor subscription: 0.92 times
Retail subscription: 2.31 times
Employees: 1.34 times
The initial public offering, which was subscribed 8.43 times at the end of bidding today, was extended till Oct. 7 to fulfill the institutional buyers quota.
- Institutional subscription: 0.45 times
- Non-institutional investor subscription: 5.39 times
- Retail subscription: 21.13 times