IPO watch: Retail traders lap up Mazagon, Likhitha points on Day 1

2020/09 29 15:09

The preliminary public choices of three firms that opened at the moment — Mazagon Dock Shipbuilders, UTI Asset Administration Firm and Likhitha Infrastructure — noticed a combined response, with the defence PSU and infra agency receiving a superb response from retail traders.

Mazagon Dock

The ₹444-crore public concern of Mazagon Dock Shipbuilders obtained subscribed 2.09 occasions, with the corporate receiving bids for six.39 crore fairness shares as in opposition to IPO measurement of three.05 crore shares, in response to the information obtainable with the inventory exchanges.

Retail traders appeared constructive on the defence main because the portion reserved for them was subscribed 5.6 occasions. Whereas the portion of non-institutional traders obtained subscribed 78 per cent, staff portion obtained bids for 27.7 per cent. Nevertheless, the class for certified institutional consumers noticed simply three per cent subscription.

Retail traders have utilized for ₹867.12 crore –they have bid for five.98 crore shares as in opposition to 1.05 crore shares on provide.

The value band is ₹135-145 per share and the difficulty closes for subscription on October 1.

Likhitha Infra

Likhitha Infrastructure public concern was subscribed 100 per cent, because of retail traders whose portion obtained bids for two.6 occasions. Whereas HNI portion was subscribed 85 per cent, institutional traders had been lukewarm, subscribing simply 2 per cent. The Hyderabad-based firm’s IPO has obtained bids for 51.35 lakh fairness shares in opposition to provide measurement of 51 lakh fairness shares. The corporate got here out with a worth band of ₹117-120.

UTI Asset

In the meantime, the much-focussed public concern of UTI Asset Administration Firm (AMC) was subscribed 27 per cent.

The ₹2,160-crore IPO of UTI AMC obtained bids for 73 lakh fairness shares in opposition to provide measurement of two.73 crore fairness shares. The retail portion noticed the next response at 51 per cent. HNIs subscribed simply 6 per cent, whereas it was close to zero subscribption from QIBs to date

The provide measurement excluded anchor e book, which noticed robust response on Monday. The AMC has raised ₹645 crore from anchor traders by allotting 1.16 crore shares on the higher worth band of ₹554 to 67 anchor traders.

Anchor traders embody ICICI Prudential Mutual Fund (MF), HDFC MF, Aditya Birla Sunlife MF, HDFC Life Insurance coverage firm, Max Life Insurance coverage Co Ltd, Reliance Capital Trustee, Morgan Stanley, HSBC, Goldman Sachs and Nomura Singapore.

The corporate has fastened a worth band of ₹552-554 a share .

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