Mazagon Dock IPO Subscribed 2.09 times on Day 1

By -

 Retail book subscribed in wee hours of market opening 

Mumbai, September 29, 2020: India’s only shipyard to have built destroyers and conventional submarines for the Indian Navy (Source: CRISIL Report); received bids of 63,974,227 shares against the offered 30,599,017 shares, as per the 5.00pm data available on the websites of BSE and NSE. The portion reserved for retail investors was subscribed 5.65 times. Non-Institutional Investor category was subscribed 0.78 times and Qualified Institutional Buyer category was subscribed 0.04 times.

The company has an established track record and has posted profits continuously in the last 4 fiscals. In FY20 it’s revenue stood at Rs. 34,766.96 mn from the shipbuilding division and Rs 14,935.39 mn from the submarine and heavy engineering division. As of July 31, 2020 the companies Order Book stood at Rs. 540,740 million comprising of three major shipbuilding projects and two submarine projects.


Collectively brokerage houses such as Angel Broking, Asit C Mehta, Philip Capital, Religare Broking, SMC Capital, Ventura Securities, Choice broking, Hem Securities, Sushil Finance, ICICI Securities, LKP Securities, Nirmal Bang have given a "subscribe" rating to the issue with a medium and long term objective in mind, citing its revenue visibility, healthy ROE, debt free status, world class infrastructure facilities, expansion and diversification plans, export revival plans  besides its lower valuation viz peers


Some of the recent warships delivered by Mazagon dock are INS Kolkata, INS Kochi and INS Chennai. The last vessel it delivered to the MOD for use by the Indian Navy was a Scorpene class submarine- INS Khanderi in 2019. The 1st Scorpene class submarine INS Kalvari was delivered in 2017

 

Yes Securities Ltd, Axis Capital Ltd, Edelweiss Financial Service Ltd, Dam Capital erstwhile IDFC Securities Ltd and JM Financial Ltd are the BRLMs to the Issue.

Comments

Post a Comment

Popular posts from this blog

QNet launches New Luxury Chairos Watches

By -
Image
·           Five new luxury watches  - Alpine Neo, Vector,  Crusader, Aquatica and Latitude launched in India under Chairos brand ·           Price range of the new collection is from Rs 62,000 to Rs 1,00,000 New Delhi, February 12  2018 :   Leading Asian direct selling company QNet has launched five new models under its luxury watch brand - Chairos. The Chairos brand is QNet’s proprietary range of luxury and sports watches exclusively for India. The new Chairos watches have been designed to combine form and functionality with timeless elegance and style. Commenting on the launch of the new range of watches, Trevor Kuna, Global CEO of QNet said, “Men typically don’t have many options for accessories to splurge on and watches have been known to convey a subtle message about the wearer’s personality. India is a fast growing global economy and more men are turning to active lifestyles, travel and exploring new experiences. Chairos is our flagship brand in India and we want
Read more

नान- शूगर स्वीटनरज़ प्रसिद्ध हो गए हैं: एफ आई सी सी आई सेमीनार मिथ को खत्म करता है और कम कैलरी वाले स्वीटनरज़ के स्वास्थ्य लाभों के बारे में बताता है

By -
मुंबई , 22  जून  2023:   एफ आई सी सी आई ने आज एक सेमीनार को आयोजित किया जिसमें  WHO NUGAG  निर्देशों के बारे में बताया हया जो की नान – शूगर स्वीटनरज़ (एन एस एस) के इस्तेमाल के साथ सम्बंधित हैं।  सेमीनार में आधुनिक विज्ञान सबूत और विश्व स्वास्थ्य संस्था (डब्ल्यू एच ओ) और प्रमुख भारतीय माहिरों के सुझावों की समीक्षा दी गई है। एफ आई सी सी आई ने कार्यवाही की मुख्य ज़रूरत को स्वीकार किया और उन उपायों को अपनाने पर जोर दिया जो ‘स्मार्ट विकल्पों ,  स्मार्ट लाभों और स्मार्ट भविष्य’ को प्रोत्साहित करते हैं।    इन्डियन काउंसिल आफ मेडिकल रिसर्च – इण्डिया डायबटीज़  (ICMR-INDIAB)  द्वारा किये गए हालिया अध्ययन के अनुसार ,  जो यह पुष्टि करता है कि भारत में 101 मिलियन डायबटीज़ के मरीज़ हैं ,  जिससे भारत आज एक डायबेटिक राष्ट्र बन गया है। मेडिकल ,  न्यूट्रीशनल ,  और विज्ञान क्षेत्रों के मुख्य माहिरों के सम्बन्ध में ,  जिसमें  डाक्टर वी मोहन  पदम् श्री अवार्डी ,   डाक्टर बी सेसीकरन ,  डाक्टरमंगेश तिवास्क्र ,  डाक्टर राजीव चावला ,  डाक्टर जगमीत मदान ,  और डाक्टर पुलकित माथुर ,  ने सेमीनार में क्रियाशील तौर पर भा
Read more

Pension Adalat

By -
The Chief Postmaster General, Maharashtra Circle, Mumbai will be holding the 53rd Postal Pension Adalat for pensioners/family pensioners of Postal Department on 29th Sept 2023 at 11.00 Hrs, in the Office of Chief Postmaster General, Maharashtra Circle, Mumbai -400 001. Grievances regarding pensionary benefits pertaining to those who retired/died while in service from Department of Posts, Pensioners of Postal Department, Maharashtra and Goa States, which have not been settled within 3 months, will only be entertained in the Postal Pension Adalat.  Cases involving purely legal points i.e. succession, Notional pension, TBOP/MACP Promotion, stepping up of pay and disciplinary cases involving policy matters and cases pending for review of DPC will not be considered in Pension Adalat .  Pensioner should forward their grievance individually (not in bulk or on behalf of others) in triplicate in the proforma attached to Accounts Officer, Pension Adalat, O/o Chief Postmaster General, Maharashtr
Read more