The Indian government's offer for sale (OFS) of Cochin Shipyard saw strong retail interest, with institutional investors over-subscribing their portion. The OFS aims to raise Rs 2,000 crore.
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.
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.
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