Mazagon Dock Shipbuilders IPO fully subscribed in Few Hours

The IPO of state-owned defense firm Mazagon Dock Shipbuilders Ltd (MDL) opened for subscription today. The price band for the issue has been fixed at ₹135-145 per share. Mazagon Dock Shipbuilders IPO will close for subscription on October 1. The initial public offer is for 3,05,99,017 shares through an offer for sale (OFS). The offer is expected to raise about ₹444 crore at the upper end of the price band. As of 2 pm today, the issue was 100% subscribed.

The government is selling shares constituting 15.17% of Mazagon Dock Shipbuilders pre-offer paid up equity share capital in this issue. The company, which received the 'Miniratna' status in 2006, is the only shipyard to have built destroyers and conventional submarines for the Indian Navy. With an order book to the tune of ₹54,0470 crore, it is also one of the first shipyards to manufacture Corvettes (small warships) in the country.

For FY18-20, revenue grew at a CAGR of 6% while net profit de-grew by 2% CAGR. In FY20, Mazagon Dock Shipbuilders reported PAT of ₹477 crore on revenue of ₹4,978 crore.

YES Securities, Axis Capital, Edelweiss Financial, IDFC Securities and JM Financial are the managers to the offer.

UTI AMC has also come out with an IPO which will close on October 1.

New defence procurement policy 2020, is expected to accelerate indigenization, which is positive for the domestic defence industry, Geojit Financial Services said in a note.

"At the upper price band of Rs.145, Mazagon Dock Shipbuilders is available at a P/E of 6.1x which is significant discount to its peers. Considering strong technological & execution capabilities, healthy order book and attractive dividend yield, we assign a subscribe rating for this IPO," the brokerage said.

LKP Securities also recommends subscribe. "At the higher price band of ₹145, the stock is valued at 6.7x FY20 earnings of ₹21.4, which looks quite attractive considering its healthy order book, long term visibility of topline growth, competitive edge, profitability, return ratios and dividend payout policy. We recommend investors to subscribe."

CAMS IPO allotment: Here’s how to check share allotment status

The basis of allotment for ₹2,240 crore CAMS IPO will be announced on September 28, and listing is scheduled for October 1. The CAMS issue was oversubscribed nearly 47 times, receiving bids for 601 million shares against the offer size of 12 million shares.

Here’s how to check CAMS IPO allotment status on NSE, BSE, and the registrar website.

The ₹2,240 crore initial public offering (IPO) of Computer Age Management Services(CAMS) received a bumper response from the investors. The CAMS issue was oversubscribed nearly 47 times, receiving bids for 601 million shares against the offer size of 12 million shares.

The basis of allotment for ₹2,240 crore CAMS IPO will be announced on September 28, and listing is scheduled for October 1. However, this is certain that not all investors will get as many shares as they subscribed for.

Here’s how to check CAMS IPO allotment status:

If you have bid for the CAMS IPO, you can check your allotment status by following these simple steps:

To check on the stock-exchange website:

To check the CAMS IPO allotment status, go to the BSE website or NSE website.

On BSE, Select ‘Equity’ and then from the dropdown, select ‘Computer Age Management Services’.

Now, enter your application number and PAN.Click on ‘Search’.

Please note the details will only be available once the shares are allotted.

You can also visit the Registrar website (Linkintime) to check your application status.

Visit the registrar’s website here.Click on ‘Select company’ and click on ‘CAMS-IPO’.

It will only appear post allotment on September 28.

Once the company is selected, you will have to enter either your PAN detail, the application number, or client ID.

Enter the captcha and click ‘submit’.

The application status will appear on the screen once you click ‘submit’.

Please make sure the details that you provide are correct. It will show the number of shares that you subscribed to and the number of shares that have been allotted to you.