Shares in Mazagon Dock Shipbuilders Ltd. rose more than 5% on Tuesday, with the company’s board of directors considering its second interim dividend for 2025. Public sector defense shipbuilders are considering declaring their second interim dividend, according to the exchange dated March 28th. The board of directors is currently underway.
If approved, this marks the company’s second provisional payment with the current accountant. Previously, it declared a provisional dividend of Rs 23.19 per share on the record date of October 30, 2024.
The company also paid a final dividend of Rs 12.11 per share on September 19, 2024, in the previous fiscal year.
The government confirmed on Friday that it will exercise oversubscription options in its offer to sell Mazagon Dock Shipbuilders Ltd., increasing the overall offer size to 4.01%. This includes an additional 47.69 lark shares or 1.18% shares, beyond the base offer of 1.14 krole shares (2.83% shares).
OFS opened for non-retail investors on Friday and continued for retail investors, employees and non-retail investors on Monday. The floor price was set at Rs 2,525 per share. The government had previously indicated that it could increase by up to 2% via oversubscription routes, but ultimately chose to offload 1.18%.
