Govt Sells 3.61% Stake in Mazagon Dock Through OFS

Mazagon Dock Shipbuilders Ltd. on Wednesday said the government has sold a 3.61% stake in the company through an offer for sale, including the exercise of the oversubscription option.

The government sold 14.56 million shares to non-retail investors on Friday and 1,147 shares to non-retail, employee, and retail investors on Monday, the company said in an exchange filing. In total, 14.56 million shares were sold.

The offer included 11.41 million shares as the base offer, representing a 2.83% stake, and an oversubscription of 4.77 million shares or 1.18% stake. An additional 50,000 shares were reserved for employees.

The floor price for the sale was set at ₹2,525 per share.