Mazagon Dock IPO subscribed 157 times on third day; UTI AMC IPO 2.31 times

Mazagon Dock Shipbuilders’ Rs 440-crore initial public offering (IPO) saw demand of 157x against the shares on offer, making it one of the most-subscribed public offering of a state-owned company. The tiny offering generated bids worth Rs 70,000 crore, with the high networth individual (HNI) portion of the issue getting 679x subscription. The retail portion was subscribed nearly 4x, while the institutional investor category was over-bid by 90x.

The last hugely subscribed PSU IPO was that of IRCTC, last year. The railway ticketing firm’s Rs 645-crore offering had garnered 112x subscription.

Meanwhile, the Rs 2,160-crore IPO of UTI Asset Management