Mazagon Dock oversubscribed by 1.95 times on Day 1

The issue price is fixed at a lower band of Rs135 per equity share and upper price band of Rs145 per equity share.

Sep 29, 2020 04:09 IST India Infoline News Service

Mazagon Dock IPO was subscribed 1.95 times so far on the first day of bidding. The portion set aside for retail investors is subscribed 5.28 times, the reserved portion of non-institutional investors witnessed 0.73 times subscription and qualified institutional buyers have not started yet.

The issue price is fixed at a lower band of Rs135 per equity share and upper price band of Rs145 per equity share.

The company will offer about 3,05,99,017 equity shares through the offer for sale (OFS) route. The total issue also includes 3,45,517 shares reserved for eligible employees.

At the upper price band, the government of India plans to raise about Rs443.68cr from the IPO.

Bid lot size includes 103 equity shares and in multiples thereof.

BRLM for this IPO are Yes Securities (India), Axis Capital, Edelweiss Financial Services, DAM Capital Advisors and JM Financial.

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