Mazagon Dock Shipbuilders shares jump over 19 pc in debut trade

Mazagon Dock Shipbuilders made a stellar debut at the bourses on Monday and closed over 19 per cent higher from the issue price of Rs 145 per share. It later closed at Rs 173, a gain of 19.31 per cent. On NSE, the stock debuted at Rs 214.90 apiece, rising 48.20 per cent from the issue price.

Mazagon Dock Shipbuilders made a stellar debut at the bourses on Monday and closed over 19 per cent higher from the issue price of Rs 145 per share. Shares of the company listed at Rs 216.25 on BSE, a premium of 49.13 per cent against the issue price. During the day, it zoomed 49.41 per cent to Rs 216.65. It later closed at Rs 173, a gain of 19.31 per cent.

On NSE, the stock debuted at Rs 214.90 apiece, rising 48.20 per cent from the issue price. Later, it closed at Rs 171.95, 18.58 per cent higher. The company's market valuation remained at Rs 3,489.24 crore at close of trade on the BSE.

On traded volume terms, 35.97 lakh shares were traded at the BSE and nearly 4 crore units on the NSE during the day. The initial public offer (IPO) of the state-owned defence firm had received stellar response from investors and was subscribed by a whopping 157.41 times.

Price range for the IPO was at Rs 135-145 per share. Yes Securities, Axis Capital, Edelweiss Financial Services, DAM Capital Advisors and JM Financial were the managers to the offer.

The company is engaged in construction and repair of warships and submarines for use by the Indian Navy and other vessels for commercial clients..

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