LtoR Vice Admiral, CMD, Narayan Prasad, MDL and Director Finance, Mr Sanjeev Singhal, MDL
MUMBAI: 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, the 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 stakeholder 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 is 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.”
Your email address will not be published. Required fields are marked *
Save my name, email, and website in this browser for the next time I comment.
Copyright © 2014 - 2022 The Global Indian New Network (TGINN)