Mazagon, UTI AMC to list today

On the final day of bidding, UTI Asset Management Company (AMC), the second-largest asset management company in India in terms of Total AUM, got fully subscribed of its initial public offering (IPO).

Oct 12, 2020 08:10 IST India Infoline News Service

Stock Exchange
Mini-ratna public sector undertaking Mazagon Dock Shipbuilders and UTI Asset Management Company (AMC) shares will debut on stock exchanges today.

As per media reports, Mazagon may list at a premium to the initial public offer (IPO) price while UTI’s listing could be tepid.

On the final day of bidding, UTI Asset Management Company (AMC), the second-largest asset management company in India in terms of Total AUM, got fully subscribed of its initial public offering (IPO). The IPO witnessed oversubscription of 2.29 times.

According to NSE data, the IPO bagged cumulative bid of 6,26,29,848 equity shares compared to the total issue size of 2,73,50,957 equity shares.

Qualified institutional investors (QIB) showed a strong appetite for the IPO, as they subscribed the issue by whopping 4.46 times. Retail individual investors were also not far away, as the quota saw subscription of 1.37 times.

Trading Members of the Exchange are hereby informed that effective from October 12, 2020, the equity shares of UTI Asset Management Company Ltd (Scrip Code: 543238) are listed and admitted to dealings on the Exchange in the list of 'B' Group Securities. For further details please refer to the notice no 20201009- dated October 09, 2020.
However, the non-institutional investors (NII) quota recorded subscription of just 71% of the total issue size.

While, Mazagon Dock Shipbuilders saw a fantastic response on its closing day, received bids of 4,816,459,117 shares against the offered 3,05,99,017 shares, as per the 5 PM data available on the websites of BSE and NSE.

The portion reserved for retail investors was subscribed 35.63 times. Non-Institutional Investor category was subscribed 678.88 times and Qualified Institutional Buyer category was subscribed 89.71 times. The employee category was fully subscribed at 3.88 times.

The Non-Institutional Portion subscription has been the second-highest in the last decade after Apollo Microsystems which was an NII response of 958 x.

Trading Members of the Exchange are hereby informed that effective from October 12, 2020, the equity shares of Mazagon Dock Shipbuilders Ltd (Scrip Code: 543237) are listed and admitted to dealings on the Exchange in the list of 'B' Group Securities. For further details please refer to the notice no 20201009-7 dated October 09, 2020.

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