Mazagon Dock Shares Plunge as Government Announces Stake Offload

agon Dock shares tumbled 6% on April 4th following the government's announcement of an Offer for Sale (OFS) to divest up to 4.8% of its stake. The OFS, opening for institutional investors on Friday and retail investors on Monday, aims to sell 1.14 crore equity shares, with a greenshoe option for an additional 80.67 lakh shares. The news triggered a sharp decline in the stock price, which fell to Rs 2,579 on the BSE.