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Last Updated : Sep 04, 2020 03:39 PM IST | Source: Moneycontrol.com

Mazagon Dock Shipbuilders may launch IPO by October

Looking to raise Rs 700-800 crore, the government is likely to sell a 10-15 percent stake in the company, CNBC-TV18 has said.

State-owned warship maker Mazagon Dock Shipbuilders may launch its initial public offering (IPO) by October 2020, CNBC-TV18 has said.

The government is likely to sell 10-15 percent stake in the company via public offer and could look at selling 2.3-3.3 crore equity shares, the business channel quoted sources as saying

The government could be looking to raise Rs 700-800 crore via Mazagon Dock IPO, which was to be launched in September 2019 but the plan was shelved due to low demand.

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In the year ended March 2020, the company's profit stood at Rs 415 crore on revenue of Rs 5,566 crore.

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First Published on Sep 4, 2020 03:39 pm
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