Cochin Shipyard OFS opens July 7; govt offers 2.52% stake at ₹1,400 floor price

The government on Monday (July 6) announced an Offer for Sale (OFS) in Cochin Shipyard Ltd, comprising a base offer of 2.52% of paid-up equity, with an additional 2.52% green-shoe option in case of oversubscription.

CNBC-TV18 reported on June 22 that the central government was planning to launch an Offer for Sale (OFS) in the state-run shipbuilder.

The floor price for the issue has been fixed at ₹1,400 per share. The OFS will open for non-retail investors on July 7, 2026, while retail investors will be allowed to bid on July 8, 2026.

The proposed stake sale is part of the government's ongoing disinvestment programme aimed at raising resources through OFSs in public sector undertakings (PSUs).

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As per the company's March quarter shareholding pattern filed with the BSE, the government's stake is below the 75% level required to meet minimum public shareholding norms, making further stake dilution necessary.

The proposed transaction comes amid an accelerated disinvestment drive by the Centre. Since May 21, the government has raised more than ₹16,000 crore through a series of OFSs.

Last month, the government announced an OFS in General Insurance Corporation of India (GIC). The proposed sale was the fifth such transaction within a month, following stake sales in Coal India, Central Bank of India, NLC India and NHPC.

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The government's recent OFSs have witnessed strong participation from both institutional and retail investors. Most of the issues were offered at attractive discounts to the previous day's closing price, resulting in robust demand.

In all OFSs launched so far this year, the government has exercised the greenshoe option, which shows healthy investor appetite for PSU offerings.

Shares of Cochin Shipyard Ltd ended at ₹1,504.75, down by ₹19.00, or 1.25%, on the BSE.