Mazagon Dock Shipbuilders IPO Day 3: Total issue subscribed 157 times, retail portion 35.5 times

Mazagon Dock Shipbuilders IPO has been subscribed about 157.4 times on the last day of the initial public offering. At 5:40 pm, the issue of the state-owned defence firm's retail book was subscribed about 35.5 times.

The issue has received the highest bids this year , leaving behind Happiest Minds Technologies (151 times).

The total issue has been subscribed 157 times, as it received bids for 481.5 crore equity shares against an offer size of 3.05 crore shares, data available on the exchanges shows.

The non-institutional investors increased their bids significantly on the final day as their reserved portion has oversubscribed by 679 times.

According to the company's RHP (red herring prospectus), one can bid for a minimum of 103 equity shares and in the multiples of 103 thereafter.

Here's everything you need to know about Mazagon Dock Shipbuilders IPO 

The price band of the IPO is fixed at Rs 135-145. It is expecting to raise about Rs 413 crore at the lower price band and Rs 444 crore at the upper price band.

The initial public offering (IPO) of 3,05,99,017 equity shares of the state-owned defence company is an offer for sale by the government. As many as 3,45,517 shares have been reserved for eligible employees. The total offer will constitute 15.17 percent of the post-issue paid-up equity.

The lead managers of the IPO are Axis Capital, DAM Capital Advisors Ltd (Formerly IDFC Securities), Edelweiss Financial Services, JM Financial Consultants and Yes Securities. The registrar is Alankit Assignments.