Mazagon Dock Shipbuilders share price will be in focus on Friday after the company announced that the government will sell up to 4.8% stake in the defence PSU through an offer for sale (OFS).
The government will sell up to 4.83% stake in Mazagon Dock Shipbuilders at a floor price of ₹2,525 per share.
“Offer for Sale in Mazagon Dock Shipbuilders Limited (MDL) opens tomorrow for Non-Retail investors. Retail investors can bid on Monday. Government will divest 2.83% equity with an additional 2% as green shoe option,” DIPAM Secretary Arunish Chawla said in a post on X on April 3.
For institutional investors, Mazagon Dock Shipbuilders OFS will open on Friday, April 4, while retail investors can bid for the OFS on April 7.
The government is selling 1.14 crore equity shares of Mazagon Dock Shipbuilders, with a greenshoe option to sell additional 80.67 lakh shares. Mazagon Dock OFS of up to 4.83% stake at a floor price of ₹2,525 a piece would fetch about ₹5,000 crore to the government.
Mazagon Dock Shipbuilders Stock Price Performance
Mazagon Dock Shipbuilders share price has surged 27% in one month, and rallied 22% on a year-to-date (YTD) basis. In the past six months, the defence stock has surged 34%.
Mazagon Dock shares have delivered multibagger returns of 145% in one year and a whopping 2,076% in three years.
On Thursday, Mazagon Dock Shipbuilders shares ended 5.05% higher at ₹2,735.45 apiece on the BSE, with a market capitalisation of ₹1,10,342 crore.
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