mazagon ipo

Mazagon IPO Date, Price band, analysis

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Mazagon Dock Shipbuilders Limited is joining the IPO rally. The defense PSU has announced the opening of its IPO for subscription on September 29. The company aims to raise ₹ 443.69 crores through the IPO.


Mazagon Dock Shipbuilders Ltd is India’s leading defense public sector undertaking shipyard under the Ministry of Defense. It is primarily engaged in constructing and repairing warships and submarines for the MoD and other types of vessels i.e. cargo ships, multipurpose support vessels, barges and border outposts, tugs, dredgers, water tankers, etc. for commercial clients. It is the only shipyard to build destroyers and conventional submarines to be used by the Indian Navy.

Objective of the Issue

  • To carry out the disinvestment plan of 30,599,017 equity shares by selling shareholders constitutes 15.17% of pre-offer equity share capital.
  • To achieve the benefits of share listing on the stock exchanges.

Basic details about MAZAGON

SectorShip Building
IndustyShip Building

Dates to remember

IPO Open29 September 2020
IPO Close01 October 2020
Basis of Allotment07 October 2020
Refunds date08 October 2020
Credit to Demat Account09 October 2020
 Listing Date12 October 2020

IPO details

Issue typeBook Built Issue IPO
IPO issue size₹413.09-₹443.69 crores
Number of shares offered to the public30,599,017 shares
Face value₹10 per equity share
Price band₹135-₹145 per equity share
Retail portion35%
Lot size103 Nos
Minimum application1 lot – 103 shares
Maximum application13 lot – 1339 shares
Minimum application amount₹14,935
maximum application amount₹194,155
Listing ExchangeBSE, NSE

More details about the company

The company’s business divisions include (i) shipbuilding and (ii) submarine and heavy engineering. The shipbuilding division includes the building and repair of naval ships. It is currently building four P-15 B destroyers and four P-17A stealth frigates and undertaking repair and refit of a ship for the MoD for use by the Indian Navy. The submarine and heavy engineering division includes building, repair and refits of diesel electric submarines. It is currently in the process of delivering five Scorpene class submarines under a technology transfer agreement with Naval Group as well as one medium refit and life certification of a submarine for the MoD for use by the Indian Navy.

Since 1960, the company has built a total of 795 vessels including 25 warships, from advanced destroyers to missile boats and three submarines. Mazagon Dock has also delivered cargo ships, passenger ships, supply vessels, multipurpose support vessels, water tankers, tugs, dredgers, fishing trawlers, barges and border outposts for various customers in India as well as abroad.


  • India’s leading public sector defense shipyard company.
  • Strong order book and financial position.
  • World class infrastructure facilities.
  • Strategic location at Mumbai on the west coast of India.


Mazagon Dock Shipbuilders’ financial performance (in INR crore)
Net income597.7456.2513.1458.0
Net margin (%)

Financial summary

ParticularsFor the year/period ended (₹ in million)
Total Assets209,660.28208,479.34193,703.72193,911.65
Total Revenue55,353.0752,046.7450,276.2942,748.63
Profit After Tax4,770.595,324.744,961.735,982.58

Valuation of Mazagon Dock Shipbuilders (as of FY2020)

Earnings Per Share (EPS)₹ 21.36
Price/Earnings (PE ratio)6.32 – 6.79
Return on Net Worth (RONW)15.54%
Net Asset Value (NAV)₹ 152.17 per share

Company Promoters

  • The President of India acting through the Ministry of Defense, GoI is the promoter of the company.

Mazagon IPO Lead managers

  • Yes Securities (India) Ltd.
  • Axis Capital Ltd
  • Edelweiss Financial Services Ltd
  • IDFC Securities Ltd

Registrar of Mazagon IPO

Alankit Assignments Limited
205-208, Anarkali Complex,
Jhandewalan Extension
New Delhi – 110 055

Phone: +91 11 4254 1234
Fax: +91 11 4154 3474

Mazagon Dock Contact Details

Mazagon Dock Shipbuilders Limited 
Dockyard Road,
Mumbai – 400010

Phone: +91 22 2376 2000
+91 22 2372 5043

Mazagon IPO Allotment Status

Mazagon IPO allotment status will be available on Link Intime’s website.

Click on this link to get allotment status.

Mazagon Dock IPO Subscription Details

No. of Times Issue Subscribed
 (BSE + NSE)
As on Date & TimeQIB NII RII Employee Total 
Shares Offered15,126,7504,538,02510,588,725345,51730,599,017
Oct 1, 2020 18:0089.71x678.88x35.63x3.88x157.41x

Final thoughts

Mazagon IPO is going to hit Dalal street soon. applying for IPO is purely a personal choice. study well about the company and do subscribe if you are feeling good about the company. I hope this post gave you enough details to make a fundamental study of the company. learn well and make a wise decision.

happy investing

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