The ₹444-crore ínitial public offering (IPO) of defence public sector shipyard Mazagon Dock Shipbuilders Ltd. (MDL), that closed on Thursday, was subscribed by over 157 times.
“The IPO of MDL closed with an overwhelming response from investors in all categories,” tweeted Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management. “The issue was subscribed more than 157 times,” he said.
The IPO for the biggest shipyard in the country was open from September 29 to October 1 in the price band of ₹135 to ₹145 per share. In August, the government divested 15% stake in aircraft manufacturer HALto raise about ₹5,000 crore.
The issue was also oversubscribed. The government is also looking sell 10% stake in Mishra Dhatu Nigam (MIDHANI) expected to raise around ₹400 crore.