Government Initiates Strategic Stake Sale in Mazagon Dock

The Indian government has announced the sale of up to 4.83 per cent stake in Mazagon Dock Shipbuilders Limited (MDL) at a floor price of Rs 2,525 per share. This move is part of the government's divestment strategy and is expected to fetch approximately Rs 5,000 crore to the exchequer.

OFS Schedule and Investment Opportunities

The Offer for Sale (OFS) will open for Non-Retail investors on the following day of the announcement, with Retail investors having the opportunity to bid on April 7. The government plans to divest 2.83% equity initially, with an additional 2% under the green shoe option.

Market Response

Following the announcement, shares of Mazagon Dock closed at Rs 2,735.45, marking a 5.05 per cent increase over the previous close on the BSE.