Wednesday, September 30, 2020

Mazagon Dock Shipbuilders Limited IPO Details

 DETAILS OF MAZAGON DOCK SHIPBUILDERS LIMITED IPO



Incorporated in 1934, Mazagon Dock Shipbuilders Ltd is the India's leading defence public sector undertaking shipyard under the Ministry of Defence. Mazagon Dock is primarily engaged in constructing and repairing warships and submarines for the MoD and other types of vessels i.e. cargo ships, multipurpose support vessels, barges and border outposts, tugs, dredgers, water tankers, etc. for commercial clients. It is the only shipyard to build destroyers and conventional submarines to be used by the Indian Navy.


The business has 2 key operating divisions - Shipbuilding division that undertakes building and repairing of naval ships, whereas Submarine and heavy engineering division includes building, repairing, and refitting of diesel electric submarines. Till 2020, the company has built 795 vessels, including 25 warships, 4 missile boats, 3 submarines, 6 Leander class frigates, 3 Godavari class frigates, 3 Shivalik class frigates, 3 corvettes, and 6 destroyers.


Mazagon Dock shipyard is strategically located on the west coast of India, the sea route that connects Europe, Pacific Rim, and West Asia.


Competitive Strength:-

  • India's leading public sector defence shipyard company.
  • World class infrastructure facilities.
  • Strategic location at Mumbai on the west coast of India.
  • Strong order book and financial position.

Company Promoters:

The President of India acting through the Ministry of Defence, GoI is the promoter of the company.

Company Financials:

Summary of financial Information (Restated Consolidated)

Particulars

For the year/period ended (₹ in million)

31-Mar-20

31-Mar-19

31-Mar-18

31-Mar-17

Total Assets

209,660.28

208,479.34

193,703.72

193,911.65

Total Revenue

55,353.07

52,046.74

50,276.29

42,748.63

Profit After Tax

4,770.59

5,324.74

4,961.73

5,982.58


Objects of the Issue:

The net proceed from the IPO will be used towards following objectives;

  • To carry out the disinvestment plan of 30,599,017 equity shares by selling shareholders constitutes 15.17% of pre-offer equity share capital

  • To achieve the benefits of share listing on the stock exchanges.

Mazagon Dock IPO Details:-

IPO Date

Sep 29, 2020 - Oct 1, 2020

Issue Type

Book Built Issue IPO

Issue Size

30,599,017 Eq Shares of ₹10
(aggregating up to ₹443.69 Cr)

Offer for Sale

30,599,017 Eq Shares of ₹10
(aggregating up to ₹443.69 Cr)

Face Value

₹10 per equity share

IPO Price

₹135 to ₹145 per equity share

Market Lot

103 Shares

Min Order Quantity

103 Shares

Listing At

BSE, NSE


Mazagon Dock IPO Tentative Date / Timetable

Bid/Offer Opens On

Sep 29, 2020

Bid/Offer Closes On

Oct 1, 2020

Finalisation of Basis of Allotment

Oct 7, 2020

Initiation of Refunds

Oct 8, 2020

Credit of Shares to Demat Acct

Oct 9, 2020

IPO Shares Listing Date

Oct 12, 2020


Mazagon Dock IPO Lot Size and Price (Retail)


Application

Lots

Shares

Amount (Cut-off)

Minimum

1

103

₹14,935

Maximum

13

1339

₹194,155


Mazagon Dock IPO Promoter Holding


Pre Issue Share Holding

100%

Post Issue Share Holding

85%