Mumbai, October 12, 2020 (GPN): Mazagon Dock Shipbuilders Limited, a wholly owned Govt. of India Company and India’s only shipyard to have built destroyers and conventional submarines for the Indian Navy (Source: CRISIL Report); listed today on the BSE and NSE at a 49 % premium. The Mini Ratna I status conferred Company listed its shares at Rs. 216.25 per share on BSE with a recorded a high of Rs 216.65 and a low of Rs. 173 per share, respectively. Subsequently on NSE, MDL’s shares listed itself at Rs 214.90 per share and recorded a high at Rs 216.95 per share and closed at Rs 171.95 per share.

The total quantity traded on NSE today was 3,96,83,730 shares with a total delivery percentage of 45.92%. The total quantity traded on BSE today was 35,96,526 with a total delivery percentage of 42.18 %. The Market Capitalization of the Company post today’s closing price stands at Rs. 3489.24 crores as per BSE data.

MDL had received bids of 4,80,48,17,645 shares against the offered 3,05,99,017 shares. The portion reserved for Retail Investors was subscribed 34.50 times , Qualified Institutional Buyer category was subscribed 89.71 times and the employee category was fully subscribed at 3.91 times. The Non-Institutional Investor category was subscribed 678.86 times which was the highest in its category in the last 2 years and has been the most subscribed PSU offering as on date.

Speaking at its listing ceremony, Vice Admiral, Narayan Prasad, CMD, MDL said, “We are extremely humbled by the tremendous response we have received from our investors. We would like to thank each and every stake holder and also our partners and employees for holding faith in our company. Our NIB category was highly subscribed with 678.86 times subscriptions followed by QIB &Retail at 89.71times and 34.50 respectively. We showcase our deep gratitude to everyone who are a part of our journey and we promise to continue our efforts to provide efficient services and sustained returns to our stakeholders.”

Speaking on behalf of DIPAM, Jt.Secy, Dr Alok Pande said “This journey of coming to listing day today tested our patience as well as commitment. One of these has been COVID 19. This firm is not one, where you can Work from Home. It requires physical presence. In May, the CMD with many staff members and their families were down with COVID. That they still were able to prepare for the IPO and do it in time shows their fighting abilities. I remember a meeting, where the ambient air was one of despair, we decided that even if there’s a 10% chance of overcoming the challenges let’s do it, and that has made all the difference.” ENDS

About Mazagon Dock Shipbuilders Limited: MSDL is a defense public sector undertaking shipyard under the Department of Defence Production, MoD with a maximum shipbuilding and submarine capacity of 40,000 DWT (Source: CRISIL Report), engaged in the construction and repair of warships and submarines for the MoD for use by the Indian Navy and other vessels for commercial clients. It is a wholly owned GoI company, conferred with the ‘Mini-ratna-I’ status in 2006, by the DPE. MSDL is India’s only shipyard to have built destroyers and conventional submarines for the Indian Navy and also one of the initial shipyards to manufacture Corvettes (Veer and Khukri Class) in India (Source: CRISIL Report). The business divisions in which the Company operates are (i) shipbuilding and (ii) submarine and heavy engineering. Its shipbuilding division includes the building and repair of naval ships. The Company is  currently building four P-15 B destroyers and four P-17A stealth frigates and undertaking repair and refit of a ship for the MoD for use by the Indian Navy. Its submarine and heavy engineering division includes building, repair and refits of diesel electric submarines. The Company is currently building/ in the process of delivering four Scorpene class submarines under a transfer of technology agreement with Naval Group as well as one medium refit and life certification of a submarine for the MoD for use by the Indian Navy. Since 1960, MSDL has built a total of 795 vessels including 25 warships, from advanced destroyers to missile boats and three submarines. (Source: CRISIL Report). The Company has also delivered cargo ships, passenger ships, supply vessels, multipurpose support vessels, water tankers, tugs, dredgers, fishing trawlers, barges and border outposts for various customers in India as well as abroad. (Source: CRISIL Report).