UTI AMC IPO subscription at 78%, Mazagon Dock oversubscribed by all categories on day two

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Updated: Sep 30, 2020 7:52 PM

On the second day of bidding for the three initial public offerings (IPO) that are currently open for subscription, the already oversubscribed Likhitha Infrastructure and Mazagon Dock added to their tally while UTI AMC’s IPO got subscribed 0.78 times.

UTI AMC and Mazagon Dock Shipbuilders' IPO DetailPrimary markets are witnessing a rush of IPOs recently which have helped investors pocket bumper gains.

On the second day of bidding for the three initial public offerings (IPO) that are currently open  for subscription, the already oversubscribed Likhitha Infrastructure and Mazagon Dock added to their tally while UTI AMC’s IPO was subscribed over 78% at the end of day-2. Retail investors have so far oversubscribed Mazagon Dock and Likhitha Infrastructure IPOs. For UTI AMC, retail investors have subscribed to over 1.16% of their portion. Primary markets are witnessing a rush of IPOs recently which have helped investors pocket bumper gains. Among all the issues in the primary market so far this month, retail investors have oversubscribed their portion.

UTI AMC’s IPO is the largest of the three issues currently active on the market. The Rs 2,160 crore issue has so far seen qualified institutional buyers (QIB) subscribe to 48% of their portion while non-institutional investors (NII) have so far bid for 35% of their quota of over 58 lakh shares. The mega issue of the AMC only includes an offer for sale (OFS) from existing shareholders and no fresh issue, which means that the firm will not be getting any funds from the IPO. Retail investors have subscribed their portion 1.16%, while employees of the company have subscribed to 67% of the shares offered to them. In all the issue has been subscribed 0.78 times so far. 

The state-run Mazagon Dock Shipbuilders IPO entered day two already oversubscribed, helped by a strong rush of domestic investors. At the end of day-two, the issue has been subscribed 7.52 times. Retail investors, after having oversubscribed their portion on day one by quite a strong margin, went on to oversubscribe their portion of the issue by 15.53 times. NIIs too have oversubscribed the issue, bidding for their portion 4.96 times while QIBs followed closely behind at 2.83 times subscription. 

Likhitha Infrastructure’s issue is the smallest of the three at just Rs 61 crore. Retail investors had oversubscribed the issue already on day one. The subscription tally of the retail investor portion was at 7.46 times at the end of day-2. NIIs too had oversubscribed their portion of the issue 3.19 times while QIB subscription was at 30% of their portion. Total subscription of the issue was at 3.10 times. 

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