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Mazagon Dock IPO Price Band set at Rs 135-145 per share, issue to open on September 29, 2020 Mazagon Dock Shipbuilders Limited

Mazagon Dock IPO Price Band set at Rs 135-145 per share, issue to open on September 29, 2020

India Blooms News Service | @indiablooms | 24 Sep 2020, 10:36 pm

Mumbai/IBNS: Mazagon Dock Shipbuilders Limited (MDSL), wholly owned by the Union government and with a Mini Ratna I status, on September 24 this year, has set a price band of Rs 135 – Rs 145 per equity share, for its maiden public offer.

According to a CRISIL report, MDSL is a defense public sector undertaking shipyard under the Department of Defence Production, Ministry of Defense (MoD) with a maximum shipbuilding and submarine capacity of 40,000 DWT, engaged in the construction and repair of warships and submarines for the MoD for use by the Indian Navy and other vessels for commercial clients.

The initial public offering (IPO) opens on September 29, 2020, and closes on October 1, 2020.

Of the initial public offering of 30,599,017 equity shares, 345,517 equity shares have been reserved for eligible employees.

Minimum Bid Lot is 103 Equity Shares and in multiples of 103 Equity Shares thereafter.

The Offer and the Net Offer constitutes 15.17 per cent and 15.00 per cent respectively of the post-Offer paid-up equity share capital of the company.

YES Securities India Ltd, Axis Capital Ltd, Edelweiss Financial Service Ltd, DAM Capital Advisors Limited (formerly known as IDFC Securities Ltd) and JM Financial Ltd are the BRLMs to the Offer.