PSU disinvestment: Govt to offload 5% in Cochin Shipyard via OFS, sets Rs 1,540/share floor price

New Delhi: The government will sell up to 5 percent stake in Cochin Shipyard at a floor price of Rs 1,540 a share starting October 16. "Offer for sale in Cochin Shipyard Limited (CSL) opens tomorrow for Non-Retail investors. Retail investors and Employees of CSL can bid on Thursday, 17th October," Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said on X.

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The government will divest 2.5 percent equity or 65.77 lakh shares, with an option to sell an additional 2.5 percent. At a floor price of Rs 1,540 a piece, the share sale of 5 percent stake would fetch about Rs 2,000 crore to the exchequer.

The floor price is at a discount of close to 8 percent over Tuesday's closing price of Rs 1,672. Shares of Cochin Shipyard settled at Rs 1,672 per piece on the BSE, up 3.03 percent. The government currently holds 72.86 percent in Cochin Shipyard.

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