Stock to Watch: Cochin Shipyard shares in focus as Govt to sell up to 5% stake via OFS
Shares of state-run Cochin Shipyard are likely to remain in focus on Wednesday as the government will sell up to 5% stake sale in the company via an offer for sale (OFS). The floor price is set at Rs 1,540 per share and the two-day issue opens today.
The base issue comprises the sale of a 2.5% equity stake representing 65,77,020 shares with a green shoe option of another 2.5%.
The OFS will open for non-retail investors today and for retail investors and employees of the company on Thursday.
The floor price of Cochin Shipyard shares are at a discount of 8% over Tuesday’s closing price of Rs 1,673. The stock on Tuesday ended with gains of Rs 48.60 or 3% on the NSE over Monday’s closing price.
The offer will take place during trading hours…
