Sat, 31 Oct 2020

New Delhi [India], Sep 24 (ANI): Government-owned Mazagon Dock Shipbuilders Ltd will open its initial public offering for subscription on September 29 and close on October 1 with a price band of Rs 135 to Rs 145 per equity share.

The allocation to qualified institutional buyers will not more than 50 per cent of the net offer, non-institutional bidders not less than 15 per cent and retail individual bidders not less than 35 per cent, the company said in a statement on Thursday.

The objective is to carry out the disinvestment of 3.05 crore equity shares constituting 15.17 per cent of the company's pre-offer paid-up equity share capital.

Yes Securities India, Axis Capital, Edelweiss Financial Service, DAM Capital Advisors, and JM Financial are the book running lead managers to the IPO.

Mazagon Dock Shipbuilders is a defence public sector undertaking shipyard under the Department of Defence Production with a maximum shipbuilding and submarine capacity of 40,000 deadweight tonnage.

It is engaged in the construction and repair of warships and submarines for the Ministry of Defence for use by the Indian Navy and other vessels for commercial clients. (ANI)

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