Garden Reach Shipbuilders file IPO papers with Sebi

12/04/2018 14:24

Garden Reach Shipbuilders has filed the draft papers with markets regulator Sebi on March 26 to float initial public offerings.

Government plans to divest over 2 crore shares of Garden Reach Shipbuilders and Engineers. It will get three years from the date of listing to bring its stake to 75 per cent or below.

Garden Reach joins a growing list of government-owned companies preparing for their maiden share sales. The list also includes Mazagon Dock Ltd, Rail Vikas Nigam Ltd, Ircon International Ltd. etc.