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Monday, April 17, 2017

Cochin Shipyard may come up with an IPO

Cochin Shipyard Limited is planning a proposal to issue an IPO of 3,39,84,000 equity shares of Rs.10 each amounting to an equity capital of Rs.33.98 crores. It is likely to comprise a fresh issue of 2,26,56,000 equity shares and sale of the Government of India’s stake in the yard worth 1,13,28,000 equity shares of Rs.10 through a public offering in the domestic market.

There has been mounting pressure from the trade union. However, the management is determined to carry on with the IPO plan.

Cochin Shipyard Limited (CSL) is the largest shipbuilding and maintenance facility in India.[2] It is part of a line of maritime-related facilities in the port-city of Kochi, in the state of Kerala, India.[3]

Of the services provided by the shipyard are building platform supply vessels and double-hulled oil tankers. Presently it is building the first range of indigenous aircraft carriers for the Indian Navy, the Vikrant-class aircraft carriers

Stay tuned to Indian IPO Blog for latest updates on opening and closing dates, price band and other details of this IPO!
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