Mazagon Dock ups share offering after oversubscription option exercised

Mazagon Dock Shipbuilders has announced an increase in its equity share offering following the exercise of an oversubscription option by its promoter, the President of India, acting through the Ministry of Defence. Initially, the base offer size was 11,410,366 equity shares, representing 2.83% of the total paid-up equity share capital. An oversubscription option of 8,067,600 shares was available. Now, 4,769,988 Equity Shares (representing 1.18% of the total paid-up equity share capital of the Company) have been exercised as part of the oversubscription option. The total offer size will now reach up to 16,180,354 equity shares, representing 4.01% of the total paid-up equity share capital of the Company. Of this, 1,618,036 shares will be available for Retail Category on April 7, 2025. Additionally, 50,000 shares will be offered to employees. The offer is being conducted through the stock exchange mechanism.