The Indian Government will sell up to 5.04 per cent stake in Cochin Shipyard via an offer for sale, according to a social media post from the secretary of India's Department of Investment and Public Asset Management.
The OFS consists of a base offer of 2.52 per cent equity stake in the state-run shipbuilder, with the option to sell an additional 2.52 per cent in case shares are oversubscribed.
The Indian Government holds a 67.92 per cent stake in the company, as of March 31, according to exchange data.
The floor price for the OFS has been fixed at INR1,400 ($14.68) per share — a discount of over seven per cent to Cochin Shipyard's last closing price.
An OFS allows large shareholders of listed companies to sell shares to the public through stock exchanges without issuing new shares.
The OFS will open for non-retail investors on July 7 and for retail investors on July 8.
The sale is aligned with the Indian Government's broader divestment and asset monetisation strategy. In the Union Budget 2026-27, the government set a target of INR800 billion from divestment and asset monetisation initiatives.
Reporting by Anuran Sadhu in Bengaluru; Editing by Joyjeet Das