Mazagon Dock IPO Subscription Status: Public issue beats Happiest Minds IPO in first round; oversubscribed by 157 times
Mazagon Dock IPO Subscription Status: Continuing to attract retail and other investors towards its public issue, the Mazagon Dock Shipbuilders IPO got subscribed 157 times on the last day of IPO subscription.
Mazagon Dock IPO Subscription Status: Continuing to attract retail and other investors towards its public issue, the Mazagon Dock Shipbuilders IPO got subscribed 157 times on the last day of IPO subscription. With this oversubscription, the Mazagon Dock IPO has beaten Happiest Minds IPO that registered 151 times oversubscription. As per the exchange data, the Mazagon Dock IPO received bids for 480.5 crore equity shares against an offer size of 3.06 crore equity shares.
From the first day of Mazagon Dock IPO subscription, retail investors have been active in bidding as the portion set aside for these investors has seen 34.6 times subscription. The non-institutional investors (NIIs) increased their bids significantly on the last day of the IPO subscription date as their reserved portion has been oversubscribed by 679 times.
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Mazagon Dock IPO is going to raise Rs 444 crore through a public issue which consists of only an offer for sale (OFS) of 3,05,99,017 equity shares by the government. The issue included employees' reserved portion of 3,45,517 equity shares.
Important dates for Mazagon Dock IPO investors
Mazagon Dock IPO allotment will take place on 7th October 2020 and credit of Mazagon Dock shares into the Demat Account of the allottees will take place on 9th October 2020. Mazagon Dock IPO listing will take place on 10th October 2020.
Incorporated in 1934, Mazagon Dock Shipbuilders Ltd is India's leading defence public sector undertaking shipyard under the Ministry of Defence. Mazagon Dock is primarily engaged in constructing and repairing warships and submarines for the MoD and other types of vessels i.e. cargo ships, multipurpose support vessels, barges and border outposts, tugs, dredgers, water tankers, etc. for commercial clients. It is the only shipyard to build destroyers and conventional submarines to be used by the Indian Navy.
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