Cochin Shipyard Stake Sale: Government Eyes Rs 2,000 Crore Windfall

The government plans to sell up to 5% stake in Cochin Shipyard at a floor price of Rs 1,540 per share. The sale, starting on October 16, aims to raise about Rs 2,000 crore. Non-retail investors can participate initially, while retail investors and employees can bid starting October 17.

The government announced its intention to offload up to a 5% stake in Cochin Shipyard, setting a floor price at Rs 1,540 per share, effective from October 16.

Tuhin Kanta Pandey, Secretary of the Department of Investment and Public Asset Management, disclosed on X that the offer is initially accessible to non-retail investors, with retail investors and Cochin Shipyard employees permitted to bid from October 17.

Comprising an initial offer of 2.5% equity or 65.77 lakh shares, the sale includes an option to divest an additional 2.5%, potentially garnering Rs 2,000 crore for the government's coffers.

(With inputs from agencies.)