Mazagon Dock Shipbuilders as against expectations made a moderate listing at Rs. 216.65 as against the issue price of Rs. 145 per share. This is a 49% premium over the issue price. The Rs. 444 crore IPO garnered huge investor response even higher than Happiest Minds Technologies.
The IPO with bids totaling for over 481.65 crore shares as against the issue size of 3.06 crore was subscribed over 157 times as per the NSE data.
Through the public issue of Mazagon Dock IPO, the government will divest close to 15 percent stake. The IPO was open from September 29 to October 1, 2020 and offered shares via the book building process in the price band of Rs. 135-145 per share.
Mazagon Dock Shipbuilders, incorporated in 1934 is into production of dredgers, water tankers, cargo ships as well as multipurpose support vessels. The company is the only shipyard to construct traditional submarines and destroyers for the Indian Navy.