Mazagon Dock Shipbuilders Initial Public Offer Subscribed 157 Times On Final Day

Mazagon Dock Shipbuilders Public Offer: A total 481.65 crore bids were made, NSE data shows

Mazagon Dock Shipbuilders IPO: Mumbai-based Mazagon Dock Shipbuilders’ initial public offer was subscribed more than 157 times at the end of the final day of bidding on Thursday. The IPO, worth Rs 444 crore, was open for subscription for three trading days starting September 29. The government, which had a 100 per cent ownership in Mazagon Dock Shipbuilders, looked to offload a 15.17 per cent stake in the defence sector shipyard through the public offer. Shares of the company will be listed on stock exchanges BSE and NSE on October 12.

At the end of the third day of issue, 481.65 crore bids were made for Mazagon Dock Shipbuilders shares under the IPO, NSE data shows, as against its issue size of 3.06 crore, marking a subscription of 157.41 times. 

Shares under the Mazagon Dock Shipbuilders public offer were available in a price range of Rs 135-145 per unit, in lots of 103 (up to 14 lots).

Incorporated in 1934, Mazagon Dock Shipbuilders operates under the Ministry of Defence. Mazagon Dock also manufactures dredgers, water tankers, cargo ships and multipurpose support vessels.

Mazagon Dock Shipbuilders is the ninth company to have launched its initial public offer so far this year.

Earlier, SBI Card, Rossari Biotech, Mindspace Business Parks REIT, Happiest Minds Technologies, Route Mobile, Compute Age Management Services, Chemcon Speciality Chemicals and Angel Broking had hit the country’s IPO market. 

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