Indian IPO Blog: Cochin Shipyard IPO
    • Showing posts with label Cochin Shipyard IPO. Show all posts
    Showing posts with label Cochin Shipyard IPO. Show all posts

    Friday, August 11, 2017

    Cochin Shipyard speedboats in sea at jet speed, up 20 percent on debut

    August 11, 2017 0
    Cochin Shipyard speedboats in sea at jet speed, up 20 percent on debut

    The equity shares of Cochin Shipyard powerboated upon listing with the shares listing at 20 percent premium over issue price

    The scrip took gear changing time to take off the shores with the listing at mere Rs.3 above the issue price before speed boating to 20 percent up at Rs.522 as against issue price of Rs.432 a piece. The stock was trading at Rs.512.40 at 10.26 am

    Stay tuned to Indian IPO Blog for more
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    Wednesday, August 9, 2017

    Cochin Shipyard IPO Allotment Status declared - Click to check your status now

    August 09, 2017 0
    Cochin Shipyard IPO Allotment Status declared - Click to check your status now

    Cochin Shipyard IPO Allotment Status is declared. Investors have started to receive SMSs for allotment and credit of equity shares in their demat account

    The link to check Cochin Shipyard IPO Allotment Status is http://cs.linkintime.co.in/ipo/IPO.aspx
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    Cochin Shipyard IPO Allotment Status declared, link to be shared shortly

    August 09, 2017 0
    Cochin Shipyard IPO Allotment Status declared, link to be shared shortly

    Cochin Shipyard IPO Allotment Status is declared. Investors have started to receive SMSs for allotment and credit of equity shares in their demat account

    The link to check Cochin Shipyard IPO Allotment Status is http://cs.linkintime.co.in/ipo/IPO.aspx
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    Cochin Shipyard IPO - Basis of Allotment

    August 09, 2017 0
    Cochin Shipyard IPO - Basis of Allotment
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    Tuesday, August 8, 2017

    Cochin Shipyard IPO GMP

    August 08, 2017 0
    Cochin Shipyard IPO GMP
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    Cochin Shipyard IPO Allotment Status expected today

    August 08, 2017 0
    Cochin Shipyard IPO Allotment Status expected today
    The much awaited allotment status for the recently concluded Cochin Shipyard IPO is expected to be declared today

    The finalization and upload of the Cochin Shipyard IPO Allotment Status is expected to be done by late night today

    The latest update on Cochin Shipyard IPO Allotment Status would be posted on Indian IPO Blog and Indian IPO Blog Whatsapp groups. 

    Stay tuned for more
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    Thursday, August 3, 2017

    Cochin Shipyard IPO Final subscription status till 7 PM

    August 03, 2017 0
    Cochin Shipyard IPO Final subscription status till 7 PM
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    Cochin Shipyard IPO subscription status till 12.20 pm

    August 03, 2017 0
    Cochin Shipyard IPO subscription status till 12.20 pm

    Cochin Shipyard IPO Subscription status - Day 3 at 12:20PM

    The following data is assuming the shares will be issued at upper price band

    QIB*: 8.14x (*Excluding Anchor)
    NII: 3.24x
    RII: 5.69x
    Empl. 0.36x
    Overall: 6.40 times

    Applications: 13,64,000 Approx
    No. of Application: 3.53 times
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    Cochin Shipyard IPO closes - Should you go for it?

    August 03, 2017 0
    Cochin Shipyard IPO closes - Should you go for it?
    The initial public offering (IPO) of state-owned Cochin Shipyard Limited was subscribed 3.16 times on its second day of opening
    The IPO is a fresh issue of 22.65 million shares, which at the upper end of the price band will fetch the company over Rs978 crore. There is also an offer for sale of 11.3 million shares. At the upper end of the price band, the government, which is selling 10% stake, will raise over Rs.489 crore

    But whether all this makes a good bet to go for it? Let's find out on a simple 3 point criteria

    1. Company Business prospects

    The company has a strong reputation in the shipbuilding space, particularly in relation to the defence sector. It has been in existence since 1972. In the past it has undertaken repairs of Indian Navy aircraft carriers such as INS Viraat and INS Vikramaditya. It is also building India's first indigenous Aircraft Carrier (IAC) for Indian Navy. It is also one of the few companies with "Miniratna" status
    Cochin Shipyard has a credible moat given that it receives preferential orders from the Indian navy and the coast guard. Being a Government of India company it also receives some confidential orders which can not be given to private players

    2. Financials

    The company's average five year ROE and ROCE were 16.1% and 24.7% respectively. Current ROE and ROCE stand at 16.2% and 23.9% respectively
    The company's revenue increased at a CAGR of 5.7% in last five years. However this growth seems impressive, given the poor health of the shipbuilding industry, excess supply, low demand and volatility in crude prices
    Moreover, the company is effectively debt free and has cash and cash equivalents of around Rs 2,000 crores against estimated capital expenditures of around Rs 2,000 crores over 3-4 years after adjusting for IPO proceeds

    3. Pricing

    The company has set a price band of Rs. 424 to Rs.432 per share for the initial share sale. One of the tempting features especially for Retail investors is the special discount of Rs.21 per equity share which will in turn reduce the cost per share Rs.411 per share assuming allotment is made at upper end of price band.

    The company is best profit making one in the shipbuilding industry since all of its listed peers have negative earnings and are highly leveraged whereas Cochin Shipyard would have a PE ratio of 18.8 times which is fairly justified

    This price is also clearly attractive for listing gains considering already high grey market premium running through

    Verdict

     Considering that the company ticks most of the boxes, investors may not want to miss this ship!
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    Wednesday, August 2, 2017

    Cochin Shipyard IPO Grey Market Premium (GMP)

    August 02, 2017 0
    Cochin Shipyard IPO Grey Market Premium (GMP)
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    Tuesday, August 1, 2017

    Cochin Shipyard IPO - Brokerage Recommendations summary

    August 01, 2017 0
    Cochin Shipyard IPO - Brokerage Recommendations summary

    IIFL Wealth Management Ltd 
    IPO provides good retail exposure to the promising domestic defence sector and available at attractive valuations of 18.1 times FY17 price to earnings (PE). “With average margins of 18% over last five years and return on equity (RoE) of around 15 over the same period, it has consistently delivered the goods, even during the slowdown phase in shipbuilding industry,”

    Motilal Oswal Securities Ltd (MOSL)
    Continuous focus on high margin repair business, strong positioning in west coast of India, healthy order book and negligible debt with cash and bank balance of Rs2,000 crore and decent ROEs and return on capital employed (ROCE) are key strengths of Cochin Shipyard, “At higher end of price band, the issue is attractive,” MOSL said

    Prabhudas Lilladher Pvt. Ltd.
    The strong net cash balance sheet, strong order pipeline and option value of bagging further air craft carriers could provide multi-year visibility of earnings. At the upper end of the issue price, market capitalization works out to be Rs.5,880 crore

    Angel Broking 
    The issue is reasonably priced on the back of healthy order book with execution capability and experienced management. “Despite cyclical business it has maintained net cash positive balance sheet and eased working capital cycle from over 195 days in FY2012 to current 59 days,”

    Sharekhan Ltd.
    “Consequently, CSL is not comparable with listed private sector shipyard companies. CSL is expected to be available at 18.8x P/E multiple (EPS calculated on post issue number of shares) and 2.9x P/B on FY2017 financials at the upper price band of Rs.432,”
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    Cochin Shipyard IPO Subscription Status on Day 1

    August 01, 2017 0
    Cochin Shipyard IPO Subscription Status on Day 1
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    Tuesday, July 25, 2017

    Cochin ShipYard IPO Details

    July 25, 2017 0
    Cochin ShipYard IPO Details

    Issue Size: *₹ 1442.01 Crs at upper Band* (including employee reservation of ₹ 33.87 Crs)
    IPO Opens on: 01-August-2017
    IPO Closes on: 03-August-2017
    Price Band: ₹ 424 to ₹ 432 per equity share
    Bid Lot: 30 Equity Shares
    Face Value: ₹ 10/- per share
    Retail Discount: ₹ 21 per equity share to Retail Investors & Eligible Employees

    Issue Split:
    *QIB: 50% (₹ 716.26 Crs at upper band)*
    *HNI: 15% (₹ 214.88 Crs at upper Band)*
    *Retail: 35% (₹ 477.01 Crs at upper band)*
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    Tuesday, July 18, 2017

    Cochin Shipyard IPO Tentative schedule

    July 18, 2017 0
    Cochin Shipyard IPO Tentative schedule

    IPO Opens on: 26-July-2017
    IPO Closes on: 28-July-2017
    Basis of Allotment:- 02-August-2017
    Refunds: 03-August-2017
    Credit to demat accounts: 04-August-2017
    Listing on: 07-August-2017
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    Monday, July 17, 2017

    Cochin ShipYard IPO Details (Tentative)

    July 17, 2017 0
    Cochin ShipYard IPO Details (Tentative)

    Cochin ShipYard IPO – Issue Information (Tentative)

    Issue Opens on: 26 July 2017
    Issue Closes on: 28 July 2017
    Issue Type: Book Built Issue IPO
    Issue Size: 3,39,84,000 Equity Shares
    Face Value: Rs 10 per Equity Share
    Price Band: Rs.424 – Rs.428 per Equity Share (QIB & NII)
    Discount: Rs.4 per Equity Share (RII & Employees)
    Market Lot: 35 shares
    Listing At: NSE, BSE
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    Monday, April 17, 2017

    Cochin Shipyard may come up with an IPO

    April 17, 2017 0
    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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