MumbaiA few moments ago
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The shares of the ship -making government company Majgaon Dock Shipbuilders fall today (on 4 April) by more than 6%. It is currently trading at Rs 180 to Rs 2,555.
In fact, the Government of India is selling its 4.83% stake in Majhgaon Dock through the offer for sale (offs). It will run from 4 to 7 April. The government is 84.8% of the total stake in the company.
Retail investors can bid for Rs 2,5254
The government is currently selling 2.83% shares (1.14 crore shares) in this OFS (Offer for Sale). After this, the government can also sell an additional 2% stake. Its floor prize for investors is Rs 2,5254, which is 7.7% less than tomorrow’s closing price (Rs 2,735.45).
Today, on 4 April (on 4 April (only non-rate investors can bid. After this, on Monday 7 April (Monday), it will open to retail investors and employees.
18.52% shares in 1 month
The stock of Majgaon Dock has fallen 3.32% in the last 5 days. In the last one month, the stock has given a return of 18.52%. Has given more than 25% returns in the last 6 months. The company’s market capital is Rs 1.03 lakh.
The company started by making dry dock in 1774
Majgaon Dock Shipbuilders Limited is a ship -making lead government company. Its history meets from 1774, when a small dry dock was built in Majhgaon. Gradually increased and was incorporated in 1934 as a Private Limited Company.
The government took a takeover in 1960, after which, the Majgaon Dock developed rapidly and became India’s major war-shipbuilding yard. Since 1960, Majgaon Dock has built a total of 801 ships. This includes 27 Warships and 7 submarines.
The company has also delivered cargo ship, passenger ship, supply vessels, multipurpose support vessels, water tankers for various customers abroad as well as abroad. The government remains the largest shareholder in Majhgaon Dock with 84.8% stake by the March quarter.
