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.
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
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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
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
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