Mazagon Dock Shipbuilders shares zoom over 49% in debut trade

Mazagon Dock Shipbuilders made a remarkable debut at the bourses on Monday with shares rallying over 49 per cent 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.

On NSE, they debuted at Rs 214.90 apiece, surging 48.20 per cent from the issue price.

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.