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The initial public offerings of three companies that opened today -- Mazagon Dock Shipbuilders, UTI Asset Management Company and Likhitha Infrastructure -- saw a mixed response, with the defence PSU and infra firm receiving a good response from retail investors.
Mazagon Dock
The ₹444-crore public issue of Mazagon Dock Shipbuilders got subscribed 2.09 times, with the company receiving bids for 6.39 crore equity shares as against IPO size of 3.05 crore shares, according to the data available with the stock exchanges.
Retail investors seemed positive on the defence major as the portion reserved for them was subscribed 5.6 times. While the portion of non-institutional investors got subscribed 78 per cent, employees portion received bids for 27.7 per cent. However, the category for qualified institutional buyers saw just 3 per cent subscription.
Retail investors have applied for ₹867.12 crore --they have bid for 5.98 crore shares as against 1.05 crore shares on offer.
The price band is ₹135-145 per share and the issue closes for subscription on October 1.
Likhitha Infra
Likhitha Infrastructure public issue was subscribed 100 per cent, thanks to retail investors whose portion received bids for 2.6 times. While HNI portion was subscribed 85 per cent, institutional investors were lukewarm, subscribing just 2 per cent. The Hyderabad-based company's IPO has received bids for 51.35 lakh equity shares against offer size of 51 lakh equity shares. The company came out with a price band of ₹117-120.
UTI Asset
Meanwhile, the much-focussed public issue of UTI Asset Management Company (AMC) was subscribed 27 per cent.
The ₹2,160-crore IPO of UTI AMC received bids for 73 lakh equity shares against offer size of 2.73 crore equity shares. The retail portion saw a higher response at 51 per cent. HNIs subscribed just 6 per cent, while it was near zero subscribption from QIBs so far
The offer size excluded anchor book, which saw strong response on Monday. The AMC has raised ₹645 crore from anchor investors by allotting 1.16 crore shares at the upper price band of ₹554 to 67 anchor investors.
Anchor investors include ICICI Prudential Mutual Fund (MF), HDFC MF, Aditya Birla Sunlife MF, HDFC Life Insurance company, Max Life Insurance Co Ltd, Reliance Capital Trustee, Morgan Stanley, HSBC, Goldman Sachs and Nomura Singapore.
The company has fixed a price band of ₹552-554 a share .
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