Government to Offload 4.83% Stake in Mazagon Dock

Base Price Set at Rs 2,525 Per Share

The Indian government has announced its intention to sell up to 4.83% of its stake in Mazagon Dock Shipbuilders Limited (MDL). The sale will begin at a base price of Rs 2,525 per share, as revealed by DIPAM Secretary Arunish Chawla on a popular social media platform.

Offer for Sale (OFS) Specifics

• Institutional investors can participate in the OFS starting on Friday.
• Retail investors can submit their bids on April 7.
• The government will sell 1.14 crore equity shares, with an additional 80.67 lakh shares available through a greenshoe option.
• The sale of up to 4.83% shares at a base price of Rs 2,525 per share is expected to generate around Rs 5,000 crore for the government.

Mazagon Dock’s shares closed at Rs 2,735.45 on the Bombay Stock Exchange (BSE), representing a 5.05% increase from the previous close.