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Mazagon Dock Shipbuilders IPO: Here are five simple steps to check your allotment status

The IPO of Mazagon Dock Shipbuilders was very well-received and the allotment status should be finalised latest by October 8. The shares are expected to list on the exchanges on October 12.

October 07, 2020 / 07:07 AM IST
Company: Mazagon Dock Shipbuilders | Day 1 subscription: 2.09 times | Total subscription: 157.4 times | Issue size: Rs 443 crore

Company: Mazagon Dock Shipbuilders | Day 1 subscription: 2.09 times | Total subscription: 157.4 times | Issue size: Rs 443 crore

 
 
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The initial public offering (IPO) of the country's largest defence company Mazagon Dock Shipbuilders got an overwhelming response and saw the eighth-largest subscription in a decade, knocking off Happiest Minds Technologies that was at number eight.

The company after consultations with merchant bankers is expected to finalise the basis of allotment with the designated stock exchange around October 7, as per the red herring prospectus. Given the huge subscription figures, a day's delay can't be ruled out.

Generally, the processing happens on working days. Hence, unblocking of funds from ASBA account or refunds are expected to be completed around October 8 and shares will be credited to all eligible investors by October 9. Shares will list on exchanges on October 12.

Here are five easy steps that can help you know the share allotment once it is done:

As Alankit Assignments is the registrar to the public issue, you can check its website for the allotment status:

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1) Select Mazagon Dock Shipbuilders in the dropdown menu
2) Check box either on application number or depository ID/client ID or PAN (Permanent Account Number)
3) If you check box "Application Number" then select application type (ASBA/NON ASBA) in dropdown and enter the application number.
If you check box DP ID/Client ID or PAN, then enter DP ID/Client ID or PAN accordingly;
4) Enter "CAPCHA" in the box (which is available in numeric form, calculate and enter)

5) Press or click on the "Search" button.

You can also check the allotment status on the BSE website:

1) Check box "Equity" in issue type
2) Select "Mazagon Dock Shipbuilders" in the dropdown under the issue name
3) Enter your application number
4) Enter PAN

5) Press or click the "Search" button.

Once the abovementioned information is correct, then you will see your application status. You can see the number of shares subscribed to and the number of shares allotted on the page.

The Rs 444-crore public issue of Mazagon Dock Shipbuilders was subscribed 157.4 times during September 29-October 1, the much higher subscription than recent IPOs Happiest Minds (151 times) and Chemcon Speciality Chemicals (149.3 times).

The IPO comprised an offer for sale of 3.06 crore equity shares by the Government of India which reduced stake to 85 percent post offer. Hence the company will not receive funds from the issue.

Mazagon Dock Shipbuilders is engaged in constructing and repairing warships and submarines and vessels such as cargo ships, multipurpose support vessels, barges and border outposts, tugs, dredgers, water tankers, etc for commercial clients.

It is the only shipyard to build destroyers and conventional submarines to be used by the Indian Navy with a maximum shipbuilding and submarine capacity of 40,000 DW.
Moneycontrol News
first published: Oct 4, 2020 04:56 pm

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