Government Promotes Offer for Sale of Equity Shares in Cochin Shipyard Limited
Cochin Shipyard Limited is conducting a public offer for the sale of equity shares by its Promoter, representing a stake held through the Ministry of Ports, Shipping and Waterways, Government of India. The Offer involves two stages: a Base Offer and an Oversubscription Option.The Promoter has offered up to 66,29,636 Equity Shares of the Company in the initial phase. This amount represents 2.52% of Cochin Shipyard Limited's total paid up equity share capital.
There is an additional Oversubscription Option available, allowing for a further sale of 66,29,636 Equity Shares, which also represents 2.52% of the total issued and paid up equity share capital of the Company. If this option is exercised, the combined Offer Shares will stand at a maximum of 1,32,59,272 Equity Shares, constituting 5.04% of the total paid-up equity share capital of the Company.
Allocation Details and Investor Limits
The public offering includes specific provisions for different investor categories. A portion of the Offer is designated for retail investors on T+1 day, which stands at 13,25,928 shares, corresponding to 10% of the total Offer size, subject to valid bids.Additionally, a segment of the stock has been set aside for eligible employees of Cochin Shipyard Limited. A total of 26,308 Equity Shares (equivalent to 0.20% of the Offer Shares) will be offered to these employees.
Regarding institutional investors, any individual entity applying for shares is limited to a maximum purchase amount of ₹500,000. For eligible employees, bids will first be considered for allocation up to an amount of ₹200,000.
COCHINSHIP Stock Price Movement
Cochin Shipyard Limited shares slipped, settling down 5.03% at ₹1445.7 after the market closed today. The stock saw a volume of 6.32 million shares traded and finished within an intraday range stretching from ₹1430.6 to ₹1467.9.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.