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.
| Purpose | Amount (₹ Cr) |
|---|---|
| 1 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 ; | — |
| 2 Achieve the benefits of listing the Equity Shares on the Stock Exchanges | — |
| Metric | 31-Mar-20 | 31-Mar-19 | 31-Mar-18 |
|---|---|---|---|
| Total Assets | 20,966 | 20,848 | 19,370 |
| Revenue | 5,535 | 5,205 | 5,028 |
| PAT | 477 | 532 | 496 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| QIB | — | 15,126,750 (49%) | — |
| NII / HNI | — | 4,538,025 (15%) | — |
| Retail (RII) | — | 10,588,725 (35%) | — |
| Employee | — | 345,517 (1%) | — |
| Total | — | 30,599,017 (100%) | — |
* Amount calculated at upper price band (₹145) · ** Total includes all investor categories
- 1 Initiation of Refund 08 Oct 2020
- 2 Credit of Shares to Demat 09 Oct 2020
- Retail allocation is good at 35% of the total offering.
- HNI/NII demand is good at 15%.
- Institutional (QIB) interest is strong at 49%.
This IPO shows moderate investor interest. Review financial details and compare valuation with industry peers before investing.
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