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    Mazagon Dock IPO allotment status: Here's how to check

    Synopsis

    HNIs flocked to the issue, and the portion reserved for them was subscribed nearly 679 times, while that reserved for retail investors was filled in nearly 35.63 times.

    IPO-3---istockiStock
    Analysts noted that volatility seen in shares of debutants in the last few days have hurt sentiment. But shares of Mazagon were last seen trading at a premium of over Rs 100 in the grey market, after falling to Rs 95 level from Rs 135 earlier.
    NEW DELHI: The basis of share allotment for mini-ratna Mazagon Dock Shipbuilders, whose initial public offer (IPO) was sold between September 29 and October 1, will be finalised on Wednesday. The Rs 444 crore issue, priced in the Rs 135-145 band, received 157.41 times bids, the highest-ever response to a PSU issue. The stock has since been enjoying a solid premium in the grey market, the unofficial market for unlisted shares.

    High networth individuals (HNIs) flocked to the issue, and the portion reserved for them was subscribed nearly 679 times, while the quota reserved for retail investors saw nearly 35.63 times subscription, the quote reserved for qualified institutional buyers (QIBs) was subscribed 89.71 times and the employee quota received bids 3.88 times the number of shares on offer.

    Those who had bid for the issue can check the subscription status on the online portal of Alankit Assignments, the registrar to the IPO. The registrar to an issue is a Sebi-registered entity, qualified to act as such, and which electronically processes all applications and carries out the allotment process as per the prospectus.

    On Alankit Assignments' web portal, one needs to select the specific IPO, but the data will get populated only when the basis of allotment is announced. One needs PAN ID or application ID or client ID and DPID (depository participant identification) to arrive at information.

    The registrar is responsible for complying with the time deadlines for updating the electronic credit of shares to successful applicants, dispatch and uploading of refunds and attending to all investor-related queries after the issue is completed.

    Another way of checking the allotment status is via stock exchange. On BSE, one can click here.

    Investors who do not get share allotment will see initiation of refunds on Thursday. For those who are alloted shares would see credit of shares to their demat accounts by Friday. The stock would be listed on the stock exchanges on October 12.

    Analysts said volatility seen in the shares of recent debutants has hurt investor sentiment. But shares of Mazagon were last seen trading at a premium of over Rs 100 in the grey market after falling to Rs 95 level from Rs 135 earlier.

    Earlier this week, Angel Broking made a poor market debut on Monday. The scrip got listed at Rs 275, a 10.13 per cent discount to the issue price of Rs 306 on BSE. Another debutant Chemcon Speciality Chemicals froze at a 20 per cent lower circuit limit on Thursday following a 115 per cent listing pop. CAMS, which also got listed on Thursday, closed at a 13.95 per cent premium to the issue price at Rs 1,401.60 after seeing a 23 per cent rise in opening trade.



    ( Originally published on Oct 06, 2020 )
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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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