The Rs 444 crore initial public offering (IPO) of Mazagon Dock Shipbuilders, the country's leading defence public sector shipyard, closes for bidding on Thursday, i.e. October 1, 2020. The share sale was open for three trading days, from September 29 to October 1, 2020. The shares of Mazagon Dock Shipbuilders are set to be listed on the BSE and NSE, on October 12.
The government, which has 100 per cent ownership in Mazagon Dock Shipbuilders, will offload 15.17 per cent stake in the IPO. It is looking to gain Rs 444 crore at the higher end of the price band, which has been fixed at Rs 135-145 per share
Investors can subscribe for a minimum one lot of 103 shares and in multiples thereof, up to a maximum 14 lots.
Axis Capital, DAM Capital Advisors Ltd (Formerly IDFC Securities), Edelweiss Financial Services, JM Financial Consultants and Yes Securities are the lead managers of the IPO. Alankit Assignments is the registrar to the issue.
Incorporated in 1934, Mazagon Dock Shipbuilders is India's leading defence public sector undertaking shipyard operating under the aegis of Ministry of Defence and the only company in the country to manufacture warships and submarines for the Indian Navy. Mazagon Dock also manufactures dredgers, water tankers, cargo ships and multipurpose support vessels.
The Mazagon Dock Shipbuilders IPO will be the ninth this year. SBI Card, Rossari Biotech, Mindspace Business Parks REIT, Happiest Minds Technologies, Route Mobile, Compute Age Management Services, Chemcon Speciality Chemicals and Angel Broking have already tapped the primary markets for funds in this calendar year.