IPO Subscription Day 1 Update: Mazagon Dock Shipbuilders, UTI AMC, Likhitha Infrastructure
A trader monitors financial data on computer screens at ETX Capital, a broker of contracts-for-difference, in this arranged photograph in London. Photographer: Chris Ratcliffe/Bloomberg

IPO Subscription Day 1 Update: Mazagon Dock Shipbuilders, UTI AMC, Likhitha Infrastructure

State-owned Mazagon Dock Shipbuilders Ltd., the country’s second-largest AMC by asset under management UTI Asset Management Co. and Hyderabad-based Likhitha Infrastructure launched their initial public offerings to mixed response.

The Miniratna status 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, according to its red herring prospectus.

The third and smallest issue is that of Likhitha Infrastructure, an oil and gas infrastructure company. Likhitha will issue fresh equity to the tune of Rs 61.2 crore at a price band of Rs 117-120.

Also read: Tech Craze Helps Indian IPO to Best Debut in Nearly a Year

Here are the subscription figures as of 5 p.m. on Day 1

Mazagon Dock Shipbuilders

The Rs 444-crore public offer received bids for 6,39,74,227 shares against 3,05,99,017 shares on offer, translating into 2.09 times subscription, according to data available with the NSE.

  • Institutional subscription: 0.04 times
  • Non-institutional investor subscription: 0.78 times
  • Retail subscription: 5.65 times
  • Employees: 0.28 times

(Click here for all you need to know about the issue)

Also read: Mazagon Dock Shipbuilders Bets Big On India’s Atmanirbhar Bharat Plan

UTI Asset Management

The Rs 2,150-crore public offer received bids for 73,02,609 shares against 2,73,50,957 shares on offer, translating into 0.27 times subscription, according to data available with the NSE.

  • Institutional subscription: 0 times
  • Non-institutional investor subscription: 0.06 times
  • Retail subscription: 0.51 times
  • Employees: 0.31 times

Also read: UTI AMC IPO: Here’s What You Need To Know

Likhitha Infrastructure

The initial public offering of the oil and gas pipeline infrastructure service provider was subscribed 1.01 times on the first 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: 0.02 times
  • Non-institutional investor subscription: 0.85 times
  • Retail subscription: 2.49 times

Also read: Stocks Rally to Revive Indian IPOs in Worst Year Since 2016

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