Mazagon Dock Shipbuilders Ltd., a defence PSU, has announced opening of its initial public offering for subscription on September 29, with a price band of ₹135 – ₹145 per equity share. Minimum bid lot is 103 equity shares and in multiples thereof. The IPO will close on October 1. The offer is being made through book-building process. The object is to carry out the disinvestment of 30,599,017 equity shares by the Government of India, which will be diluting 15.17% of its stake in the company. On the lower price band the issue will fetch ₹413 crore and at the upper band ₹444 crore. “While many of the sectors saw limited impact, COVID-19 has hit the airlines and hospitality sector really hard. So some of our timelines and targets will have to be recalibrated,” Dr. Alok Pande, Joint Secretary, DIPAM, said.
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