Cochin Ship­yard steals the show on bourses

India Business Journal - - NEWS ROUND-UP -

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.

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