Mazagon Dock Shipbuilders initial public offering (IPO) has been subscribed 157.4 times till the last day of bidding. It is the highest subscription than Happiest Minds which was 151 times this year.
The public issue received bids for 481.5 crore equity shares against offer size of 3.06 crore, data available on the exchanges showed. The price band was Rs. 135- 145 per share.
The non-institutional investors (NII) reserved portion was oversubscribed 679 times. While, the retail investors portion saw 35.5 times subscription.
The State defense company is primarily engaged in constructing and repairing warships and submarines and other types of commercial vessels. With the only shipyard to build destroyers and conventional submarines to be used by the Indian Navy.
Mazagon Dock IPO allotment will take place on 7th October 2020. The listing will take place on 10th October 2020.
