Mazagon Dock Shipbuilders IPO
Mazagon Dock Shipbuilders IPO — date, price band, lot size & details 2020
Mazagon Dock Shipbuilders listed on 12 Oct 2020 at ₹214.9, 48.2% above the ₹145 issue price.
Mazagon Dock Shipbuilders is a defence public sector shipyard that builds and repairs warships and submarines for the Indian Navy. Its total income was Rs 5,535.31 crore in FY2020.
Stock price
Mazagon Dock Shipbuilders is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 29 Sep 2020
- Close 01 Oct 2020
- Allotment 07 Oct 2020
- Refund/credit 08 Oct 2020
- Listing 12 Oct 2020
Issue summary
The terms of the offer, as filed.
| IPO Dates | 29 Sep to 1 Oct, 2020 |
|---|---|
| Price Band | ₹135 – ₹145 |
| Face Value | ₹10 |
| Lot Size | 103 Shares |
| Issue Size | ₹443.69 Cr |
| Sale Type | OFS only |
| Listing On | BSE, NSE |
| Registrar | Alankit Assignments Limited |
| Min Investment | ₹ 14,935 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 103 shares at the ₹145 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 103 | ₹14,935 |
| Retail (max) | 13 | 1,339 | ₹1,94,155 |
| S-HNI (min) | 14 | 1,442 | ₹2,09,090 |
| S-HNI (max) | 66 | 6,798 | ₹9,85,710 |
| B-HNI (min) | 67 | 6,901 | ₹10,00,645 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Its order book was Rs 540,740 million on 31 July 2020.
- 02It had no borrowing in FY2018, FY2019 and FY2020.
- 03Total income rose from Rs 5,027.63 crore in FY2018 to Rs 5,535.31 crore in FY2020.
- 04It has a maximum shipbuilding and submarine capacity of 40,000 DWT.
- 05Net worth was Rs 3,069.13 crore on 31 March 2020, even after a 10% buyback in March 2020.
Risks · 5
- 01All of its Rs 540,740 million order book came from the Ministry of Defence.
- 02Profit after tax fell from Rs 532.47 crore in FY2019 to Rs 477.06 crore in FY2020.
- 03The whole Rs 443.69 crore issue was an offer for sale, so none of it went to the company.
- 04The government held 100% before the issue and 84.83% after it, so it controls the company.
- 05Ship and submarine contracts are long and complex, and total assets were Rs 20,966.03 crore in FY2020, so delays can tie up a lot of money.
Three years of numbers
All figures in ₹ crore, as reported in the Mazagon Dock Shipbuilders offer document.
| Metric | 31 Mar 2020 | 31 Mar 2019 | 31 Mar 2018 |
|---|---|---|---|
| Assets | 20,966.03 | 20,847.93 | 19,370.37 |
| Total Income | 5,535.31 | 5,204.67 | 5,027.63 |
| Profit After Tax | 477.06 | 532.47 | 496.17 |
| NET Worth | 3,069.13 | 3,216.92 | 2,834.05 |
| Reserves and Surplus | 2,867.44 | 2,992.82 | 2,609.95 |
| Total Borrowing | 0.00 | 0.00 | 0.00 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
How the company intends to use the proceeds of the issue.
Information about the usage of proceeds from the Mazagon Dock Shipbuilders IPO will be updated shortly.
About the company
It is a defence PSU shipyard under the Department of Defence Production, with a maximum shipbuilding and submarine capacity of 40,000 DWT according to the CRISIL Report in its RHP. It works in two divisions: shipbuilding, and submarines and heavy engineering.
Its order book on 31 July 2020 was Rs 540,740 million, all from the Ministry of Defence. It covered P-15 B destroyers, P-17A stealth frigates, Scorpene class submarines and refit work.
The IPO was Rs 443.69 crore and was entirely an offer for sale by the Government of India, so the company received no money. The price band was Rs 135 to Rs 145.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Mazagon Dock Shipbuilders IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
125 issues handledBest listing: Tata Technologies (+140.0%). Weakest: ACME Solar Holdings (-13.1%).
Axis Capital
126 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Dam Capital Advisors Ltd
44 issues handledBest listing: Go Colors (+89.9%). Weakest: Metro Brands (-12.6%).
Edelweiss Financial Services Ltd
17 issues handledBest listing: Route Mobile (+104.9%). Weakest: Lodha Developers (-10.3%).
YES Securities (India) Ltd
5 issues handledBest listing: Radiant Cash Management Services (+9.6%). Weakest: Lodha Developers (-10.3%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Mazagon Dock Shipbuilders?
The current Grey Market Premium is ₹105, or 72% over the issue price.
What is the Mazagon Dock Shipbuilders IPO price band?
₹135 to ₹145, on a face value of ₹10.
When is the allotment?
The basis of allotment is 7 October 2020, with listing on 12 October 2020.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Alankit Assignments Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
