The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for President of India, acting through the Ministry ....
MAZDOCK · price
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The President of India, acting through the Ministry of Defence (the promoter of Mazagon Dock Shipbuilders), has completed an Offer for Sale (OFS) through the stock exchange mechanism. The promoter initially proposed to sell up to 1,14,10,366 shares (2.83% of paid-up capital) with an oversubscription option of up to 80,67,600 shares (2.00%). The oversubscription option was exercised for an additional 47,69,988 shares (1.18%). In total, 1,45,63,465 equity shares representing 3.61% of the paid-up capital were sold on April 4 and April 7, 2025. The promoter's holding fell from 84.83% (34,21,81,966 shares) to 81.22% (32,76,18,501 shares) post-sale. Up to 50,000 additional shares were offered to eligible employees under SEBI OFS guidelines.
This is a divestment by the Government of India, a major non-financial event. While supply from the promoter can create short-term overhang on the stock, the post-sale promoter holding remains comfortably high at 81.22%, so strategic control is unchanged. The sale increases public float and may improve liquidity over time.