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Shares of PSU Mazagon Dock Shipbuilders made a robust debut on bourses on Monday and closed 19 per cent higher from the issue price of Rs 145 per share.
Earlier, the scrip listed at Rs 216.25 on BSE, a premium of 49.13 per cent against the issue price. It later closed at Rs 173, a gain of 19.31 per cent.
On NSE, the stock debuted at Rs 214.90, up 48.20 per cent from the issue price. However, it closed 18.58 per cent up at Rs 171.95.
The Rs 444 crore initial public offer (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.
Earlier, the scrip listed at Rs 216.25 on BSE, a premium of 49.13 per cent against the issue price. It later closed at Rs 173, a gain of 19.31 per cent.
On NSE, the stock debuted at Rs 214.90, up 48.20 per cent from the issue price. However, it closed 18.58 per cent up at Rs 171.95.
The Rs 444 crore initial public offer (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.
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4 Comments on this Story
 | Binu Pillai1 hour ago Most of the new orders in tbe Naval Sector are going to ANIL AMBANI only.. PSU babus are paid BRIBE for their inefficiencies n delays. |
| Pankaj Sharma6 hours ago PSU can survive only when there is no competition or challenge to them. The private sector is not all allowed to enter in defences sector otherwise L/T, TATA, ADNANI etc are groups, who can offer better products and much cheaper price. L/T is prime competitor in naval field, A.M.Naik have on records said during UPA regime, I have deliberately kept facilities small as government is not giving orders and facility will remain idle. He was referring to some forging plant at Hazira. PSU BANKS are all failure, had government not pumped in money time to time. |
| Manoranjan Dutta7 hours ago Success stories of PSUs are there that need to be promoted for further. However most public sector companies have become inefficient due to red tapism and political interference. |