State-owned warship maker Mazagon Dock Shipbuilders may launch its initial public offering (IPO) by October 2020, CNBC-TV18 has said.

The government is likely to sell 10-15 percent stake in the company via public offer and could look at selling 2.3-3.3 crore equity shares, the business channel quoted sources as saying

The government could be looking to raise Rs 700-800 crore via Mazagon Dock IPO, which was to be launched in September 2019 but the plan was shelved due to low demand.

In the year ended March 2020, the company's profit stood at Rs 415 crore on revenue of Rs 5,566 crore.