Authorities to promote as much as 4.83 per cent in Mazagon Dock at Rs 2,525 per share

NEW DELHI: The federal government will promote as much as 4.83 per cent stake in Mazagon Dock Shipbuilders at a flooring value of Rs 2,525 per share. “Provide for Sale in Mazagon Dock Shipbuilders Restricted (MDL) opens tomorrow for Non-Retail traders. Retail traders can bid on Monday. Authorities will divest 2.83% fairness with an extra 2% as inexperienced shoe choice,” DIPAM Secretary Arunish Chawla stated in a submit on X.
The OFS will open for institutional traders on Friday. Retail consumers can put in bids on April 7.
The federal government is promoting 1.14 crore fairness shares, with a greenshoe choice to promote further 80.67 lakh shares.
The share sale of as much as 4.83 per cent at a flooring value of Rs 2,525 a chunk would fetch about Rs 5,000 crore to the exchequer.
Shares of Mazagon Dock closed at Rs 2,735.45, up 5.05 per cent over earlier shut on the BSE.