The government’s offer for sale of stake in Cochin Shipyard received strong demand from investors on the first day, with the non-retail portion subscribed 3.52 times. Following the response, the government decided to exercise the full green-shoe option. Retail investors and employees will be able to bid for shares on July 8.
The OFS opened for non-retail investors on July 7. The government had offered a base stake of 2.52% of Cochin Shipyard’s paid-up equity, with an additional 2.52% available as a green-shoe option in case of oversubscription. The floor price was fixed at Rs 1,400 per share.
