Representational image/IPO
Representational image/IPO

After successful IPOs like Happiest Minds, Route Mobile, CAMS and others, three issues will open on September 29 — UTI AMC (UTI Asset Management Company), Mazagon Dock Shipbuilders and Likhitha Infrastructure.

While UTI AMC and Mazagon Dock Shipbuilders are the much-awaited, high-profile IPOs, Hyderabad-based Likhitha Infrastructure is an oil and gas infrastructure company with a good track record.

All three issues will close on October 1.

Know what all these are offering before you subscribe:

UTI Asset Management Company:

  • It is India’s second-largest asset management company in terms of total assets under management (AUM). The total AUM of the company is Rs 8.49 lakh crore.

  • The price band of the issue is Rs 552- 554 per piece. The minimum bid lot is 27 equity shares or in multiples of 27 equity shares thereafter.

  • With this IPO, the asset management company is looking at raising around Rs 2,152 - 2,160 crore.

  • The issue is an offer for sale of 38,987,081 equity shares by the selling shareholder.

  • The five shareholders selling stakes in UTI AMC are State Bank of India, Bank of Baroda, LIC, Punjab National Bank, and T. Rowe Price International.

Mazagon Dock Shipbuilders Limited (MDL):

  • State-owned defence firm has an order book to the tune of Rs 54,0470 crore. It is one of the first shipyards to manufacture Corvettes (small warships) in the country. It is the only shipyard to have built destroyers and conventional submarines for the Indian Navy.

  • The price band for the issue is Rs 135-145 per equity share. The minimum bid lot is 103 shares and the maximum is 1,339 shares.

  • Through this IPO, the company is looking at raising Rs 444 crore.

  • The initial public offer is for 3,05,99,017 shares through an offer for sale (OFS).

  • Through this IPO, the government is doing its first divestment for the financial year 2021 by selling 15.17 per cent stake in MDL.

Likhitha Infrastructure:

  • The Hyderabad-based company, founded in 1998, is an oil and gas pipeline infrastructure service provider in India. The order book of the company stands at approximately Rs 663 crore as of July 2020. The company has clients from the public and private sectors.

  • The issue price is Rs 117 - 120 per equity share. The minimum bid lot is 125 shares. For this book-building issue, the company will raise up to Rs 61 crore.

  • The IPO consists of a fresh issue of up to 5,100,000 equity shares representing 25.86 percent of the post issue paid-up equity capital of the company.

  • The revenue growth of the company in FY15-FY20 stood at a 38.96 percent CAGR and profit was 58.56 percent CAGR.

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Free Press Journal