Mazagon Dock lists at 49% premium over issue price of Rs 145

Shares of state-run Mazagon Dock Shipbuilders made a stellar debut on Monday, as the scrip got listed at Rs 216.25, a 49.14 per cent premium to its issue price of Rs 145.

On NSE, the scrip debuted at Rs 214.90, up 48.21 per cent.

The Rs 444 crore IPO had garnered the highest response ever among initial public offerings of public sector undertakings (PSUs).

The IPO of Mazagon Dock, which was open for bidding from September 29 to October 1, was subscribed a whopping 157.41 times.

The portion reserved for non-institutional investors was subscribed 678.88 times, the qualified institutional buyers' quits 89.71 times and the retail investors' quota 35.63 times.

The company, incorporated in 1934, is a 'mini-ratna-I' public sector undertaking under the Department of Defence Production, (MoD). Headquartered in Mumbai, its core capabilities include construction and repair of warships, submarines for Indian Navy and other vessels for commercial clients.