The Rs 444 crore preliminary public providing (IPO) of Mazagon Dock Shipbuilders will open for subscription on Tuesday, i.e. September 29, 2020. The share providing of the nation’s main defence public sector shipyard shall be open for 3 buying and selling days, from September 29 to October 1, 2020. The shares of Mazagon Dock Shipbuilders are prone to be listed on the BSE and NSE, on October 12.
The firm has fastened the value band for its public provide at Rs 135-145 per share. At the upper finish of the value band, the IPO will garner Rs 444 crore.
Investors can subscribe for a minimal one lot of 103 shares and in multiples thereof, as much as a most 14 tons.
The IPO will allow the federal government, which has 100 per cent possession of the corporate, to dump 15.17 per cent stake and obtain the proceeds from the share providing.
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 main defence public sector enterprise shipyard beneath the Ministry of Defence. It is the one firm within the nation to fabricate warships and submarines for the Indian Navy. Mazagon Dock additionally constructs cargo ships, multipurpose help vessels, dredgers and water tankers.
Mazagon Dock Shipbuilders provide would be the ninth this 12 months, after SBI Card, Rossari Biotech, Mindspace Business Parks REIT, Happiest Minds Technologies, Route Mobile, Compute Age Management Services, Chemcon Speciality Chemicals and Angel Broking.