Mazagon Dock IPO Price Band set at Rs 135-145 per Share; Issue to Open on September 29, 2020

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Chennai: Mazagon Dock Shipbuilders Limited, a wholly owned GoI company conferred with the Mini Ratna I status and India’s only shipyard to have built destroyers and conventional submarines for the Indian Navy (Source: CRISIL Report); will be opening its initial public offering for subscription on September 29, 2020 and will close on October 1, 2020 with a price band of ₹ 135 – ₹ 145 per Equity Share.

The Offer is being made through book building process in accordance with regulation 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957 and regulation 31 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended where allocation to QIBs is not more than 50% of the Net Offer, Non-Institutional Bidders is not less than 15% of the Net Offer and Retail Individual Bidders is not less than 35% of the Net Offer.

The objects of the Offer are to carry out the disinvestment of 30,599,017 Equity Shares by the Selling Shareholder constituting 15.17% of our Company’s pre-Offer paid up Equity Share capital. Issue Proceeds will go to the president of India, acting through the ministry of defense, Government of India (the Selling Shareholder)

YES Securities India Ltd, Axis Capital Ltd, Edelweiss Financial Service Ltd, DAM Capital Advisors Limited (formerly known as IDFC Securities Ltd) and JM Financial Ltd are the BRLMs to the Offer

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