Book Running Lead Manager to the IPO of Mazagon Dock Shipbuilders Limited

Initial Public Offering

Service

October 2020

Date

Industrials

Sector

INR 4,437 MN

Deal Value

Book Running Lead Manager to the IPO of Mazagon Dock Shipbuilders Limited

Deal Highlights:

  • IPO of the only PSU defence shipyard constructing destroyers and submarines
  • A New Record – Highest overall subscribed PSU IPO (QIB – 89.87x, HNI – 668.03x, Retail – 30.81x, Employee – 1.47x, with over 26 lakh retail applications)
  • Mobilised ~INR 70,000 crs despite simultaneous IPOs open in the same issue period
  • Listed at a ~50% premium to the Issue Price

Our Contribution:

  • 2nd successful shipyard IPO executed by us, prior one being Cochin Shipyard in Aug’ 17
  • We led the positioning efforts, highlighting the GOI’s ‘Make in India’ initiative and company’s exemplary track record
  • Converted multiple marquee Long Only investors which helped set the valuation benchmark as well as provide demand momentum to launch the IPO
  • Tapped into our strong retail and HNI distribution network
  • Provided end-to-end handholding and guidance to DIPAM on various deal contours and timing