Mazagon Dock Shipbuilders shares zoom over 49 pc 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 ₹145 per share.

Mazagon Dock Shipbuilders made a remarkable debut at the bourses on Monday with shares rallying over 49 per cent from the issue price of ₹145 per share.

People walk past the Bombay Stock Exchange (BSE) building in Mumbai. (REUTERS)

Shares of the company listed at ₹216.25 on BSE, a premium of 49.13 per cent against the issue price.

On NSE, they debuted at ₹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 ₹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.