Govt to sell up to 5% stake in Cochin Shipyard via OFS. Floor price set at Rs 1,540 per share
Cochin Shipyard via an offer for sale (OFS) and has set a floor price of Rs 1,540 per share. The two-day issue will open on Wednesday for non-retail investors.
The base issue comprises the sale of a 2.5% equity stake representing 65,77,020 shares with a green shoe option of another 2.5%.
The OFS will open for retail investors and employees of the company on Thursday.
The floor price of Cochin Shipyard shares are at a discount of 8% over Tuesday's closing price of Rs 1,673. The stock on Tuesday ended with gains of Rs 48.60 or 3% on the NSE over Monday's closing price.
The offer will take place during trading hours through a separate window on Thursday.
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