Can you throw some light on the recently announced Mazagon Dock IPO?
Answer
Answer
Mazagon Dock Shipbuilders announced that its IPO will open for subscription on September 29 and close on October 01. The price band for the same has been fixed at Rs 135-145 per equity share. The issue will close on October 1 and will coincide with 2 other IPOs.
The company will offer up to 3.06 crore shares via an offer for sale or OFS, which includes a reservation of 3,45,517 shares for eligible employees. At the upper of the band, the total size of the IPO divested by the government of India will approximately be Rs.443.70 crore.
Out of the non-employee portion, 50% of the offer is reserved for qualified institutional buyers or QIBs. While 35% is reserved for retail investors investing up to Rs.2 lakhs in the issue, the balance 15% is reserved for HNIs and corporates.
Along with the Mazagon IPO, there are 2 more IPOs that will remain open for the 3 day period from September 29 to October 01. While Mazagon Docks and UTI AMC will be a total offer for sale, Likhitha Infrastructure will be raising fresh funds in the market.