Mazagon Dock Shipbuilders IPO To Open On Tuesday. Things To Look Out For
The Rs 444 crore initial public offering (IPO) of Mazagon Dock Shipbuilders will open for subscription on Tuesday, i.e. September 29, 2020. The share offering of the country's leading defence public sector shipyard will be open for three trading days, from September 29 to October 1, 2020. The shares of Mazagon Dock Shipbuilders are likely to be listed on the BSE and NSE, on October 12.
The company has fixed the price band for its public offer at Rs 135-145 per share. At the higher end of the price band, the IPO will garner Rs 444 crore.
Investors can subscribe for a minimum one lot of 103 shares and in multiples thereof, up to a maximum 14 lots.
The IPO will enable the government, which has 100 per cent ownership of the company, to offload 15.17 per cent stake and receive the proceeds from the share offering.
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. The registrar is Alankit Assignments.
Incorporated in 1934, Mazagon Dock Shipbuilders is India's leading defence public sector undertaking shipyard under the Ministry of Defence. It is the only company in the country to manufacture warships and submarines for the Indian Navy. Mazagon Dock also constructs cargo ships, multipurpose support vessels, dredgers and water tankers.
Mazagon Dock Shipbuilders offer will be 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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