Stock Market Listing: Mazagaon Dock Shipbuilders has got a great listing in the stock market today. The stock was listed at a 49 per cent premium on BSE at a price of Rs 216. The up price band for the IPO was kept at Rs 145 per share. That is, the stock was listed at an increase of Rs 61 against the issue price. At the same time, the investors of UTI AMC have got mild disappointment. The stock was listed on BSE at Rs 490 with a discount of around 11 per cent. The issue price of the stock was Rs 554.
Profit recovery at Mazgaon Dock after listing
However, after the listing, profits are being seen in Mazgaon Dock Shipbuilders. The stock has lost nearly 13 per cent or Rs 28 since it was listed at Rs 216. The stock of Mazagaon Dock on BSE reached around Rs 188 in the morning at 10:15. Its issue price was 145 rupees. At the same time, UTI AMC is seeing more than 7 percent increase after listing. After listing at 490, this stock has come at a price of Rs 525.70. Its issue price was Rs 554.
Mazgaon Dock: How was the subscription
Mazgaon Dock Shipbuilders’ IPO opened on September 29 and closed on October 1. The company’s IPO was subscribed 157.6 times till the last day of the IPO. Mazagaon Doc had fixed the price range for the IPO at 135-145 per share. Yes Securities, Axis Capital, Edelweiss Financial, IDFC Securities and JM Financial will manage the IPO.
About Mazgaon Dock
Mazgaon Dock is a defense public sector company, under the Defense Production Department. Mazgaon Dock is primarily in the construction and repair of Warships and Submarines for the Department of Defense. Apart from this, the commercial client is engaged in the construction and repair of other types of vessels i.e. cargo vessels, multipurpose support vessels, tugs, dredgers, water tankers etc. Talking about Mazagaon Dock, it is in a Dominant position in its area. The business of the company is good and it is showing good growth.
UTI AMC: How was the subscription
The IPO of UTI AMC was open for investment from 29 September to 1 October. The IPO received a great response from investors. UTI AMC’s IPO was subscribed 2.3 times till the last day of bidding. The company aims to raise Rs 2160 crore from the IPO.
The price band of UTI AMC was kept at Rs 552-554. The issue will be managed by Axis Capital, Citi, Bank of America Securities, ICICI Securities, JM Financial, Kotak Investment Banking and SBI Capital Markets.
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