Mazagon Dock Shipbuilders IPO Opens For Subscription. Things To Look Out For
The Rs 444 crore initial public offering (IPO) of Mazagon Dock Shipbuilders, the leading defence public sector shipyard in the country, opens for subscription on Tuesday, i.e. September 29, 2020. The share sale will be open for three trading days, from September 29 to October 1. The shares of Mazagon Dock Shipbuilders are likely to be listed on the benchmark indices, BSE and NSE, on October 12.
The company has fixed the price band of the public offer at Rs 135-145 per share. Investors are eligible to subscribe for a minimum one lot of 103 shares and in multiples, up to a maximum 14 lots.
The government, which has 100 per cent ownership of the company, expects to offload 15.17 per cent stake and garner Rs 444 crore in the share offering, at the higher end of the price band.
The lead managers of the IPO are Axis Capital, DAM Capital Advisors Ltd (Formerly IDFC Securities), Edelweiss Financial Services, JM Financial Consultants and Yes Securities, whereas Alankit Assignments is the registrar.
Mazagon Dock Shipbuilders, incorporated in 1934, is the only company in India to manufacture warships and submarines for the Indian Navy. It also constructs cargo ships, multipurpose support vessels, dredgers and water tankers.
The Mazagon Dock Shipbuilders initial public offer is the ninth this year, after SBI Card, Rossari Biotech, Mindspace Business Parks REIT, Happiest Minds Technologies, Route Mobile, Compute Age Management Services, Chemcon Speciality Chemicals and Angel Broking.
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