Cochin Shipyard gets subscribed by 0.92 times on the first day
DSIJ Intelligence / 02 Aug 2017
Global seaborne trade major Cochin Shipyard IPO that opened on August 1 for subscription, was subscribed by 92 per cent on the very first day.
Global seaborne trade major Cochin Shipyard IPO that opened on August 1 for subscription, was subscribed by 92 per cent on the very first day. The IPO is supposed to close on August 3, 2017.
With a price band of Rs 421- Rs 432 along with a retail and employee discount of Rs 21, the IPO comprised of 50 per cent allocation to qualified institutional buyers, 15 per cent to non institutional investors and 35 per cent to the retail institutional investors.
The IPO was subscribed by 0.72 time by qualified institutional buyers, 0.22 times by non-institutional investors, 1.57 times by retail investors and 0.12 times by the company’s employees.
The issue price (upper brand) of the IPO was Rs 978.72 crore and OFS (upper price band) was Rs 489.37 crore, thereby a total issue (upper price band) of Rs 1468 crore.
The IPO had SBI Capital Markets Limited, Edelweiss Financial Services Limited and JM Financial Institutional Securities Limited as its book running lead managers.
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