Mazagon IPO subscribed 1.74 times on Day 1; UTI AMC mops up about 24%

Govt is looking to raise Rs 440 crore by divesting 15.2% stake through Mazagaon IPO

State-owned Mazagon Dock Shipbuilders garnered 1.74 times subscription for its initial public offering (IPO) on Tuesday, the first day of the issue. 

Meanwhile, two other IPOs which too opened on Tuesday that of UTI Asset Management Company and Likhitha Infrastructure garnered 24 per cent and 77 per cent subscription respectively. 

Through the Mazagon IPO, the government is looking to raise Rs 440 crore by divesting 15.2 per cent stake. The IPO price band has been set at Rs 135 to Rs 145 per share. 

At the top end, the company will be valued at Rs 2,924 crore. 

UTI AMC’s IPO