Mazagon Dock Shipbuilders IPO
Mazagon Dock Shipbuilders Limited (MAZDOCK) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 12 October 2020.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +53.3% (likely range +18% to +94%), day's high +63.9%, chance of a gain 97%. Actual: +48.2% at the open, +49.6% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 1,51,26,750 | 1,35,70,40,759 | 89.7x | |
| NII (HNI) total | 45,38,025 | 3,08,07,65,638 | 679x | |
| Retail | 1,05,88,725 | 37,73,13,308 | 35.6x | |
| Employees | 3,45,517 | 13,39,412 | 3.88x | |
| Total | 3,05,99,017 | 4,81,64,59,117 | 157x |
Bids on NSE and BSE together, as published by NSE. Shares offered exclude the anchor portion. 6% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Mazagon Dock Shipbuilders's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Ujjivan Small Finance BankDec 2019 | 111x | 473x | 49.1x | 166x | ₹771 Cr | +58.8% | +69.7% |
| Chemcon Speciality ChemicalsSep 2020 | 114x | 449x | 41.2x | 149x | ₹318 Cr | +115.0% | +115.1% |
| Central Depository Services (India)Jun 2017 | 149x | 563x | 23.8x | 170x | ₹524 Cr | +67.8% | +81.2% |
| Quess CorpJul 2016 | 59.0x | 392x | 34.1x | 144x | ₹411 Cr | +57.7% | +60.7% |
| Capacit'e InfraprojectsSep 2017 | 131x | 638x | 17.6x | 183x | ₹408 Cr | +59.6% | +59.6% |
| Happiest Minds TechnologiesSep 2020 | 77.4x | 351x | 70.9x | 151x | ₹702 Cr | +110.8% | +137.9% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Yes Securities (India) | 6 | +28.6% | 83% |
| Axis Capital | 107 | +20.4% | 73% |
| Edelweiss Financial Services | 16 | +25.0% | 69% |
| DAM Capital Advisors | 37 | +13.6% | 59% |
| JM Financial | 109 | +22.8% | 75% |
Offer documents (NSE)
Frequently asked
What is the Mazagon Dock Shipbuilders IPO price band and lot size? ₹135–145 per share, with a lot of 103 shares, so the smallest retail bid is ₹14,935.
How many times has it been subscribed? 157x overall: QIB 89.7x, NII 679x, retail 35.6x, employees 3.88x.
How did it list? It opened at ₹215, +48.2% against the issue price of ₹145, and closed its first day +18.6%.
