Mazagon Dock IPO 2020, a Hit and Lit.

Economics 20 October 2020 12:18:PM

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Hello readers and the stock nerds today we are going to talk about the  Mazagon Dock IPO 2020. The state known firm Mazagon docks shipbuilders ltd. AKA "The shipbuilder to the nation." Did the latest IPO launch yesterday.  and Guess what they received a mind-blowing response in return from the investors. It was subscribed to 157.41on the Thursday.  The offering started on the 29th of Sep 2020 and ended on the 1st of Oct 2020 and the response was impressive.

If we check the NSE data of Mazagon Dock IPO 2020 then we will get to know that The number of shares reserved for retail investors was 1,05,88,725 and the bids received till now are 2,14,35,330 shares, as per the NSE data.

 

If we talk about the very first day of offering then the day says, The IPO, which opened for bidding on Tuesday, had a price range of Rs 135-145 per share. The initial public offering ( IPO) of the state-owned defense company's 3,05,99,017 equity shares is a bid to be offered by the government. For qualifying jobs, as many as 3,45,517 shares have been reserved. 15.17 percent of post-issue paid-up equity would represent the cumulative bid. 678.88 times, eligible institutional buyers 89.71 times, and retail investors 35.63 times, were subscribed to the section reserved for non-institutional investors.

 

Mazagon Docks IPO 2020 was a subscribe by GEPL Capital (Mazagon Dock) this listed at a premium of 115 percent on Oct 1st. This was the highest listing premium for IPOs in 2020. The govt owned company makes warships and submarines for the navy and other commercial clients. This was a stake sale of the government of 15.14%. The Listed PSU company received bids of 157 times and an amount of Rs 70,000crs for an issue size of Rs 444crs. Expected to give a high dividend yield of over 6 percent, after coal India, cochin shipyard to name a few.