Mazagon Dock Shipbuilders shareholding shows LIC bought government stake sold via OFS
Published on 21/07/2025 04:50 AM
Mazagon Dock Shipbuilders shareholding shows LIC bought government stake sold via OFSLIC's name does not feature in the company's March shareholding pattern, which either means that it did not own any stake, or it was less than 1%. By Hormaz Fatakia July 21, 2025, 4:50:31 AM IST (Published)2 Min ReadIndia's largest insurance company, Life Insurance Corporation of India Ltd., who also has a major equity portfolio, has now disclosed stake in state-run defence equipment manufacturer Mazagon Dock Shipbuilders Ltd., the latest shareholding pattern shows.
Based on the June quarter shareholding data available on the Bombay Stock Exchange (BSE), LIC now owns a 3.27% stake in Mazagon Dock. LIC's name does not feature in the company's March shareholding pattern, which either means that it did not own any stake, or it was less than 1%.
The government recently diluted 3.6% stake in the company, which has resulted in its shareholding declining to 81.2% from 84.8% earlier. This is still 6.2% higher than the Minimum Public Shareholding norms figure of 75%.
Mutual Funds continue to own 1.34% stake in the stock, which has just seen a marginal increase in free float.
The retail shareholding has also remained constant at 9.34%, though the number of retail shareholders has gone up from 6.58 lakh to 7 lakh. Retail shareholders are those whose authorised share capital is up to ₹2 lakh. Retail shareholders had mainly stayed away from the Mazagon Dock Offer for Sale (OFS), where the government had sold stake.
Shareholding of foreign portfolio investors has also seen a marginal increase to 2.49% from 2.26% earlier.
Shares of Mazagon Dock Shipbuilders have been among the defence names that had seen a very sharp run-up during the April-June period. The stock gained 23% during that quarter, having made a new record high of ₹3,775, before cooling off from those levels.
Shares of Mazagon Dock Shipbuilders ended 2.2% lower last Friday at ₹2,979.7. The stock is now down 21% from its record high levels, having declined 11% in the last one month.Continue ReadingCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!Tagsdefence stocksLife Insurance Corporation of IndiaMazagon DockMazagon Dock Shipbuildersshare market today