Mazagon Dock Shipbuilders IPO To Launch On Sept 29, Price Band Fixed

The public issue of state-run Mazagon Dock Shipbuilders slated to open on September 29 is primarily a share sale or OFS by the government. For the maiden public issue of the defence company, the price band has been set between at between Rs. 135-145 per share on September 24.

The Rs. 423 crore -Rs.444 crore IPO comprises a total offering of 3,05,99,017 equity shares, of which 3,45,517 shares are reserved for eligible employees. The total offer will constitute 15.17 percent of the post-issue paid-up equity. Bids can be made for a minimum of 103 equity shares and in multiples of 103 thereafter.

The public issue of Mazagon Dock will close on October 1.
Axis Capital, Yes Securities, Edelweiss Financial, IDFC Securities and JM Financial are the book running lead managers to the issue, while Alankit Assignments is the registrar.

The defence company under the Department of Defence Production (MoD) has a maximum shipbuilding and submarine capacity of 40,000 DWT as per a report by CRISIL.

GoodReturns.in