Mazagon Dock Shipbuilders made a stellar debut at the bourses on October 12 and closed over 19 % higher from the issue price of ₹145 per share.
Shares of the company listed at ₹216.25 on BSE, a premium of 49.13% against the issue price. During the day, it zoomed 49.41% to ₹216.65. It later closed at ₹173, a gain of 19.31%.
On NSE, the stock debuted at ₹214.90 apiece, rising 48.20% from the issue price. Later, it closed at ₹171.95, 18.58% higher.
The company’s market valuation remained at ₹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 ₹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.