Mazagon Dock Shipbuilders IPO opens today, gets thumbs up from brokerages

The company is primarily engaged in constructing and repairing warships and submarines for MoD and other types of vessels for commercial clients

The initial public offering (IPO) of state-owned defence firm Mazagon Dock Shipbuilders Ltd (MDSL) will open for bidding on Tuesday. The price band for the issue has been fixed at Rs 135-145 per share and the bid size is 103 equity shares and multiples of 103 shares thereafter.

The issue will close for subscription on October 1. The offer is expected to raise about Rs 444 crore at the upper end of the price band and at the lower range about Rs 413 crore.

The objectives of the IPO is to carry out the disinvestment of 30,599,017 equity shares constituting 15.17 per