NEW DELHI: Shares of state-owned defence firm Mazagon Dock Shipbuilders made a strong market debut on Monday as the stock got listed at Rs 216.25 — a 49 per cent premium over its issue price of Rs 145.
On the NSE platform, the scrip debuted at Rs 214.90, up 48 per cent.
The initial public offer (IPO) of the company received stellar response from investors and was subscribed a whopping 157.41 times on the last day of bidding (October 1).
The Rs 444 crore public offer received bids for 4,81,64,59,117 shares against 3,05,99,017 shares on offer, as per NSE data. Price range for the IPO was fixed at Rs 135-145 per share.
The portion reserved for non-institutional investors was subscribed 678.88 times, qualified institutional buyers 89.71 times and retail investors 35.63 times.
Yes Securities, Axis Capital, Edelweiss Financial Services, DAM Capital Advisors and JM Financial are the managers to the offer.
(With PTI inputs)