Public Sector Company Mazagon Dock Shipbuilders Ltd’s stock today got listed on the NSE at Rs 214.90. The stock of this defence sector company was listed at a 48 per cent premium. Another stock that was listed today was UTI Asset Management Company (UTI AMC). The stock was listed at Rs 500. The UTI AMC stock was listed at a discount of 10 per cent.  

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At 11:17 am, Mazagon share price was trading at Rs 189.30, discounting some of the listing gains. The price corrected by almost 12 per cent from the listing price. 

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The stock of UTI AMC was trading around Rs 515.20 on NSE around this time, gaining by almost 3 per cent from the listing price.         

The Initial Public Offering (IPO) of Mazagon Dock was brought as the government decided to sell its 15.17 per cent stake in the company. The price band in the three-day IPO which opened on 28 September was Rs 135-Rs 145 per equity share.  The lot size was 103 shares and the minimum investment is Rs 14935.  

Meanwhile, UTI AMC issue opened on the same day. In this three-day IPO, the price band of the equity shares was kept at Rs 552-Rs 554. The lot size of this IPO was be 27 shares and it can be bid for a minimum amount of Rs 14958. The company planned to raise Rs 2160 cr through the IPO. This is the biggest Asset Management Company (AMC) after SBI. 

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Zee Business Managing Editor Anil Singhvi said that both the listings were not as per the expectations, In fact, they were rather weaker than expectations.