Cochin Shipyard steals the show on bourses
Cochin Shipyard made a dazzling debut on the BSE and the NSE last month, listing at a premium of over 20 per cent to its issue price of Rs 432. The Rs 1,468-crore IPO of the State-run shipbuilder, which had manufactured the iconic INS Vikrant, had earlier been subscribed by over 76 times. The company will use the proceeds from the public offer to set up a new manufacturing facility besides general purposes, according to its prospectus. After the IPO, the government's stake has come down by 10 percentage points to 75 per cent.