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© Provided by The Financial Express So far since September, Happiest Minds Technologies, Route Mobiles and Chemcon Speciality Chemicals have more than doubled the investors’ wealth on listing day.

Mazagon Dock Shipbuilders shares zoomed on the stock market debut on Monday as the scrip got listed at Rs 216.25 apiece on BSE, a premium of Rs 49.14 on the upper band of the issue price of Rs 135-145 per equity. The stock listed on the National Stock Exchange (NSE) at a price of Rs 214.90 per share, a 48.20 per cent premium over its issue price. The Rs 444-crore Mazagon Dock Shipbuilders IPO received a robust response, subscribing 157.41 times on the final day of the bidding process. Mini-Ratna public sector undertaking Mazagon Dock Shipbuilders became the most subscribed public issue this calendar year after Chemcon Speciality Chemicals and Happiest Minds Technologies IPOs.

Check live prices: Mazagon Dock Shipbuilders

Earlier, Chemcon Speciality Chemicals subscribed nearly 150 times and was listed with a 115 per cent premium over the issue price. Similarly. Happiest Minds Technologies IPO receiving a robust response from investors, subscribed 151 times during the three-day bidding process. The shares commanded a 111 per cent premium from the IPO price on a listing day. However, Route Mobile shares too zoomed on stock market debut and were listed at 105 per cent premium. So far since September, Happiest Minds Technologies, Route Mobiles and Chemcon Speciality Chemicals have more than doubled the investors’ wealth on listing day.

In Mazagon Dock, the portion reserved for non-institutional investors was subscribed a whopping 678.88 times, while the qualified institutional buyers subscribed their portion 89.71 times. The IPO saw subscription by retail investors 35.63 times. Manan Doshi, an independent dealer in unlisted shares, told that Mazagon Dock Shipbuilders was last heard trading with a premium of Rs 105 over IPO price, at around Rs 250 in the grey market.

According to the analysts, short-term traders are advised to book listing gains. “Long term traders should book 40 per cent profit if there’s a good listing with sizeable gains of more than 40 per cent to reduce the risk,” Vishal Wagh, Head of Research, Bonanza Portfolio Ltd, told Financial Express Online.