Shares of Cochin Shipyard Limited (CSL), a public-sector shipbuilder, fell over 4 per cent today as investors turned to book profit after the government’s up to 5.04 per cent stake sale offer in Cochin Shipyard at a floor price of Rs 1,400 per share opened for institutional investors. The government is selling up to a 5 per cent stake in the PSU at a floor price of Rs 1,400 per share through an offer for sale.
The offer for sale (OFS) opened for non-retail investors on July 7, 2026, and was soon oversubscribed. Retail investors can bid on July 8, 2026.
Bidding to close at the end of market hours
Against the base offer size of over 59.66 lakh CSL shares, institutional buyers put in bids for about 74 lakh shares, over-subscribing their portion by 1.23 times. Bidding will continue till close of market hours.
The “government announces offer for sale in Cochin Shipyard Ltd (CSL) with a base offer of 2.52 per cent of its paid-up equity and an additional 2.52 per cent as the green-shoe option in case of oversubscription,” Department of Investment and Public Asset Management (DIPAM) Secretary Arunish Chawla said on X.
The floor price of Rs 1,400 per share is at a 7 per cent discount over Monday’s closing price on BSE. Shares of Cochin Shipyard closed at Rs 1,504.75, down 1.25 per cent over the previous close on BSE on Monday. The government currently holds a 67.91 per cent stake in CSL.
Share price today
The counter opened gap down at Rs 1,454.80, a loss of 3.32 per cent from the previous close of Rs 1,504.75 on the BSE. Amid profit booking, it fell further to touch the intraday low of Rs 1,438, representing a drop of 4.44 per cent. Last seen, the stock was trading at Rs 1461.60 and the market cap of the company stood at Rs 38,436.10 crore. The stock has been losing for the last two days and has fallen 4.02 per cent in the period.
Govt sells OFS in six public sector entities
So far in the current fiscal, the government has sold stake via OFS in six public sector entities – Central Bank of India, Coal India, NHPC, NLC India, GIC and IRFC, garnering a cumulative Rs 18,561 crore.
For the full fiscal year, the government has budgeted to raise Rs 80,000 crore via PSU disinvestment and asset monetisation.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
