Cochin Shipyard lists at Rs 440
DSIJ Intelligence / 11 Aug 2017
Cochin Shipyard Limited got listed at Rs 440 per share as against its issue price of Rs 432 per share at a premium of 1.8% on the NSE.
Cochin Shipyard Limited got listed at Rs 440 per share as against its issue price of Rs 432 per share at a premium of 1.8% on the NSE. The IPO of the company was oversubscribed by 76.19 times on its last day of subscription on August 3.
The company proposes to utilize the net proceeds of the issue for (a) setting up of a new dry dock within the existing premises of the company, (b) setting up an international ship repair facility at Cochin Port Trust area (ISRF), and (c) general corporate purposes.
SBI Capital Markets, Edelweiss Financial Services and JM Financial Institutional Securities were the Book Running Lead Managers (BRLMs) to the issue. The equity shares of the company are listed on BSE and NSE.
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