Mazagon Dock, UTI AMC, Likhitha Infra IPOs: Day 2 Subscription Updates
Mazagon Dock Shipbuilders, UTI AMC and Likhitha Infra are looking to capitalise on the healthy appetite shown by investors.
The initial public offers of Mazagon Dock Shipbuilders Ltd. and UTI Asset Management Co. saw investor interest on the second day of bidding, albeit not in equal measure.
While the defence public sector undertaking’s IPO was subscribed multiple times over, that of the mutual fund manager is yet to witness full subscription.
The state-run builder of warships, submarines and commercial vessels 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. 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.
The third and smallest issue is of Likhitha Infrastructure, an oil and gas infra company. Likhitha is issuing fresh equity worth Rs 61.2 crore in a price band of Rs 117-120 per share.
Here are the subscription figures as of 5 p.m. on Day 2
Mazagon Dock Shipbuilders
The public offer received bids for 23,01,16,111 shares against 3,05,99,017 on offer, translating into 7.52 times subscription, according to data available with the NSE.
Institutional subscription: 2.83 times
Non-institutional investor subscription: 4.96 times
Retail subscription: 15.53 times
Employees: 1.04 times
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UTI Asset Management
The maiden issue received bids for 2,15,44,407 shares against 2,73,50,957 on offer, translating into 0.79 times subscription, according to data available with the NSE.
Institutional subscription: 0.48 times
Non-institutional investor subscription: 0.35 times
Retail subscription: 1.15 times
Employees: 0.66 times
Likhitha Infrastructure
The initial public offering of the oil and gas pipeline infrastructure service provider was subscribed 3.11 times on the second day of bidding.
The IPO consists of a fresh issue of up to 51,00,000 equity shares representing 25.86% of the post-issue shareholding.
Institutional subscription: 0.03 times
Non-institutional investor subscription: 3.20 times
Retail subscription: 7.47 times