Could someone explain the process of applying for the Cochin Shipyard Limited IPO? It would also be great, if you could let me know more details about the allotment and listing date.
The issue of Cochin Shipyard Limited opens on August 1, 2017, and closes on August 3, 2017. The company is offering shares in the price band of Rs.424 – Rs.432 and the market lot size is 30 Shares. There is a discount of Rs.21/- per share for retail investors & employees.
About the company.
Cochin Shipyard Ltd is a wholly-owned company of the Government of India and is the largest public sector shipyard in India in terms of dock capacity. It caters to clients engaged in defence sector in India and in the commercial sector worldwide. It is also engaged in providing marine engineering training. The company has two docks, one is used for ship repair and the other is used for shipbuilding. The ship repair dock accommodates vessels with a maximum capacity of 1,25,000 DWT and the shipbuilding dock accommodates vessels with a maximum capacity of 1,10,000 DWT.
The company is also in the process of constructing a new dock, a ‘stepped’ dry dock (“Dry Dock”). It is also in the setting up an International Ship Repair Facility (“ISRF”), which includes setting up a shiplift and transfer system.
The government is divesting a 10% stake in the company and would issue 20% fresh equity shares. After the IPO, the government’s stake will reduce to 75%.
Tentative IPO schedule.
Allotment date - August 8th
Amount will be unblocked on August 9th.
Credit of shares to demat accounts on August 10th.
Listing on NSE, BSE and commencement of trading on August 11th.
To apply for the IPO follow these steps.
Are you applying for the Cochin Shipyard IPO?