Latest News | Govt Gets Good Retail Interest in Cochin Shipyard OFS: DIPAM
Get latest articles and stories on Latest News at LatestLY. The government on Thursday said it has received good interest from retail investors in the offer for sale (OFS) of Cochin Shipyard.
New Delhi, Oct 17 (PTI) The government on Thursday said it has received good interest from retail investors in the offer for sale (OFS) of Cochin Shipyard.
Through the two-day OFS, the government sold a 5 per cent stake or 1.3 crore shares in Cochin Shipyard.
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Institutional investors on Wednesday over-subscribed the portion reserved for them. The issue opened for retail investors on Thursday.
"The second day of Cochin Shipyard Limited OFS closed with good interest from retail investors. We thank all investors for their participation," Department of Investment and Public Asset Management Secretary Tuhin Kanta Pandey said on X.
The share sale is likely to fetch about Rs 2,000 crore to the exchequer.
The government currently holds 72.86 per cent of Cochin Shipyard.
Shares of Cochin Shipyard closed at Rs 1,559.80, down 1.81 per cent over the previous close on BSE.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)