Cochin Shipyard OFS Grabs Retail Investor Attention

The government successfully attracted retail investors during the Offer for Sale (OFS) of Cochin Shipyard. The two-day event saw the sale of a 5% stake, resulting in approximately Rs 2,000 crore for the government. Institutional investors had already oversubscribed their portion.

The government reported strong interest from retail investors in the Cochin Shipyard's Offer for Sale (OFS), which concluded on Thursday. This marked a successful two-day event.

During the OFS, a 5% stake accounting for 1.3 crore shares of Cochin Shipyard was sold. Institutional investors had already oversubscribed their reserved portion as of Wednesday, and the offer opened for retail investors on Thursday.

According to Tuhin Kanta Pandey, Secretary of the Department of Investment and Public Asset Management, the share sale could yield roughly Rs 2,000 crore for the exchequer. As of now, the government holds 72.86% of Cochin Shipyard. Despite the sale, Cochin Shipyard's shares closed at Rs 1,559.80, a decrease of 1.81% on the BSE.

(With inputs from agencies.)