Mazagon Dock Shipbuilders’ Rs 444-cr IPO to open on Sep 29; price band at Rs 135-145/share

By: |
September 24, 2020 2:32 PM

The initial public offering is of 3,05,99,017 shares through an offer for sale (OFS).

IPO, CAMS, Chemcon Speciality Chemicals Chemcon Speciality Chemicals was the second most subscribed public issue this year after Happiest Minds Technologies, which saw an oversubscription of 151 times.

State-owned defence firm Mazagon Dock Shipbuilders on Thursday said its initial public offering will open for bidding on September 29 and price band for the issue has been fixed at Rs 135-145 per share. The initial public offering is of 3,05,99,017 shares through an offer for sale (OFS). The issue will close for subscription on October 1, the company said in a virtual press conference.

The offer is expected to raise about Rs 444 crore at the upper end of the price band and at the lower range about Rs 413 crore. Shares of the company are proposed to be listed on BSE and NSE. YES Securities, Axis Capital, Edelweiss Financial, IDFC Securities and JM Financial are the managers to the offer.

The company is engaged in construction and repair of warships and submarines for use by the Indian Navy and other vessels for commercial clients, according to the red herring prospectus.

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