Government to sell up to 5% stake in Cochin Shipyard; check floor price, other key details
State-run Cochin Shipyard Ltd on Tuesday informed exchanges that the government will sell up to 5 per cent stake in the defence firm through the offer-for-sale (OFS) route. The issue opens on October 16 (Wednesday) for non-retail investors and its floor price has been fixed at Rs 1,540 per share, a discount of 7.90 per cent compared to Tuesday’s closing price of Rs 1,672. The OFS will include a base offer of a 2.5 per cent stake and a green shoe option of another 2.5 per cent. The issue will open on October 17 (Thursday) for retail investors.
“The government proposes to sell up to 65,77,020 Equity Shares of the company, (representing 2.50 per cent of the total paid-up equity share capital) (Base Offer Size), on October 16, 2024, (T…
