Mazgon Dock Shipbuilders gets SEBI’s nod for IPO

Mazagon Dock Shipbuilders has received approval from the Securities and Exchange Board of India (SEBI) to float an initial public offering (IPO). The public sector undertaking had filed draft papers with the markets regulator in April 2018. As per the draft papers, Mazagon will see the sale of over 22.4 million equity shares by the government. The IPO is a part of the government’s target to garner Rs 800 billion through stake sales in state-owned companies duirng 2018-19.