Announcement
The Secretary of India’s Department of Investment and Public Asset Management announced on X that the Government of India will divest up to 5.04% of its equity in Cochin Shipyard Ltd through an Offer for Sale (OFS).
Stake Details
- The OFS consists of an initial 2.52% equity tranche, with an additional 2.52% tranche that will be exercised only if the issue is oversubscribed.
- As of 31 March 2026, the government’s shareholding in Cochin Shipyard stood at 67.92%.
Pricing
- The floor price for the OFS has been fixed at ₹1,400 per share (approximately US$14.68), representing a discount of more than 7% compared with the shipbuilder’s last closing price.
Subscription Timeline
- The OFS will open to non‑retail investors on Tuesday and to retail investors on Wednesday following the announcement.
Policy Context
- This disposal is part of the Government’s broader divestment and asset‑monetisation strategy outlined in the Union Budget 2026‑27, which targets the raising of ₹800 billion from such initiatives.