The Government of India has announced its intention to divest up to a 4.83% stake in Mazagon Dock Shipbuilders Ltd (MDL), as per an exchange filing.
Currently holding 84.83% of the company’s equity, the government plans to sell 11.4 million shares, representing a 2.83% stake, with an option to offload an additional 2%.
The floor price for this Offer for Sale (OFS) is set at ₹2,525 per share, approximately 8% below the closing price on April 3, 2025.
The OFS is scheduled to open on April 4 for non-retail investors and on April 7 for retail investors.
Mazagon Dock’s shares have appreciated nearly 23% year-to-date.
Mazagon Dock Shipbuilders Ltd (MDL), established in 1934 and based in Mumbai, India, is a premier public sector shipyard under the Ministry of Defence. The company specializes in the construction of warships and submarines for the Indian Navy, as well as offshore platforms and support vessels for offshore oil drilling. Since 1960, MDL has built a total of 805 vessels, including 30 warships ranging from advanced destroyers to missile boats, and eight submarines. The shipyard also produces cargo ships, passenger ships, supply vessels, water tankers, tugs, dredgers, fishing trawlers, barges, and border outposts for various domestic and international clients.