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 will probably 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 corporate has mounted the worth band for its public supply at Rs 135-145 per share. On the larger finish of the worth band, the IPO will garner Rs 444 crore.
Buyers can subscribe for a minimal one lot of 103 shares and in multiples thereof, as much as a most 14 heaps.
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 (Previously IDFC Securities), Edelweiss Monetary Companies, JM Monetary Consultants and Sure Securities. The registrar is Alankit Assignments.
Integrated in 1934, Mazagon Dock Shipbuilders is India’s main defence public sector endeavor shipyard below the Ministry of Defence. It’s the solely 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 supply would be the ninth this 12 months, after SBI Card, Rossari Biotech, Mindspace Enterprise Parks REIT, Happiest Minds Applied sciences, Route Cellular, Compute Age Administration Companies, Chemcon Speciality Chemical substances and Angel Broking.