Nature of the Event

This document is a regulatory notice filed by the Ministry of Ports, Shipping and Waterways, Government of India, to the Managing Directors of BSE Limited and National Stock Exchange of India Limited. It serves as official notification of the Promoter's intention to conduct an Offer for Sale (OFS) of equity shares in Cochin Shipyard Limited through the stock exchange mechanism, in compliance with SEBI regulations.

Key Quantitative Figures

  • Total Base Offer Size: 66,29,636 Equity Shares, representing 2.52% of the total issued and paid-up equity share capital of Cochin Shipyard Limited.
  • Oversubscription Option: An additional 66,29,636 Equity Shares (2.52%), making the potential total offer up to 5.04% of the share capital.
  • Employee Reservation: 26,308 Equity Shares (equivalent to 0.20% of the Offer Shares) reserved for eligible employees.
  • Floor Price: ₹1400.00 per Equity Share.
  • Retail Investor Limit: Bids for Offer Shares of total value not more than ₹200,000.
  • Employee Investment Limit: Eligible employees may apply for Equity Shares amounting up to ₹500,000, with maximum allotment per employee capped at ₹200,000.

Dates of Action

  • T Day (Non-Retail Investors): July 7, 2026 - Trading window open from 9:15 a.m. to 3:30 p.m. IST
  • T+1 Day (Retail Investors, Employees, and carried forward non-retail bids): July 8, 2026 - Trading window open from 9:15 a.m. to 3:30 p.m. IST
  • Oversubscription Decision: To be intimated to Stock Exchanges after trading hours (at or before 5 p.m.) on T day (July 7, 2026)
  • Cooling-off Period: 10 trading days required if Offer is withdrawn prior to opening on T Day

Parties Involved

  • Seller/Promoter: The President of India, acting through and represented by the Ministry of Ports, Shipping and Waterways, Government of India
  • Stock Exchanges: BSE Limited and National Stock Exchange of India Limited
  • Seller's Brokers: DAM Capital Advisors Limited (Broker Code: NSE-12914/BSE-623, also acting as Settlement Broker), Axis Capital Limited (Broker Code: NSE-13872/BSE-6105), and BOB Capital Markets Limited (Broker Code: NSE-13045/BSE-3258)
  • Authorized Signatory: Vipul Singhal, Director, Ministry of Ports, Shipping and Waterways

Allocation Methodology

Non-Retail Category (July 7, 2026)

  • Allocation at or above Floor Price on price priority basis at multiple clearing prices
  • Minimum 25% reservation for Mutual Funds and Insurance Companies subject to valid bids at or above Floor Price
  • No single bidder (except Mutual Funds and Insurance Companies) allocated more than 25% of Offer Shares
  • Non-retail investors may indicate willingness to carry forward un-allotted bids to T+1 day
  • Unsubscribed portion after allotment eligible for allocation in Retail Category

Retail Category (July 8, 2026)

  • Minimum 10% reservation subject to receipt of valid bids
  • Retail Investors may bid at any price above Floor Price and/or at "Cut-Off Price"
  • Cut-Off Price means the lowest price at which Offer Shares are sold in non-Retail Category
  • Allocation possible below Floor Price due to Retail Discount (though document states "Nil" for Retail and Employee Discount)
  • Unsubscribed portion after allotment eligible for allocation to non-Retail Investors who carried forward bids

Employee Category (July 8, 2026)

  • 26,308 Equity Shares reserved for eligible employees
  • Employees may bid only at "Cut-Off Price" of T day
  • PAN mis-matched bids shall be rejected
  • In case of under-subscription, unsubscribed portion may be allotted on proportionate basis for value in excess of ₹200,000, subject to total allotment not exceeding ₹500,000 per employee

Settlement Details

  • Settlement shall take place on a trade for trade basis
  • Non-institutional investors must deposit 100% of bid value in cash upfront
  • Institutional investors have option of placing bids without upfront payment
  • Retail Investors and Employees require 100% margin at time of placing bids
  • Various settlement timelines apply based on investor category and trading day

Important Conditions

  • The Seller reserves right to not proceed with Offer any time prior to opening on T Day
  • Offer may be cancelled if insufficient demand from non-Retail Investors at or above Floor Price on T day
  • Offer may be cancelled in case of default in settlement obligation
  • Promoters and members of Promoter Group are not allowed to participate in the Offer
  • The Offer is not a "public offer" and no prospectus has been registered
  • Strict restrictions apply for US persons and other international jurisdictions

Financial Impact

The transaction represents a potential divestment of up to 5.04% of the government's holding in Cochin Shipyard Limited. The exact financial impact will depend on the final subscription levels and clearing prices achieved during the OFS process.