{"id":4409,"date":"2024-10-16T10:55:47","date_gmt":"2024-10-16T05:25:47","guid":{"rendered":"https:\/\/lakshmishree.com\/news\/?p=4409"},"modified":"2024-10-16T10:55:49","modified_gmt":"2024-10-16T05:25:49","slug":"cochin-shipyard-drops-4-as-governments-5-stake-sale-via-ofs-begins-at-discount","status":"publish","type":"post","link":"https:\/\/lakshmishree.com\/news\/cochin-shipyard-drops-4-as-governments-5-stake-sale-via-ofs-begins-at-discount\/","title":{"rendered":"Cochin Shipyard Drops 4% as Government&#8217;s 5% Stake Sale via OFS Begins at Discount"},"content":{"rendered":"\n<p>Shares of Cochin Shipyard fell over 4% on October 16, as the government launched an offer-for-sale (OFS) to offload a 5% stake in the public sector company. The OFS is priced at a floor of Rs 1,540 per share, reflecting a 7% discount from the last closing price.<\/p>\n\n\n\n<p>The offer includes a base 2.5% stake, or 66 lakh shares, and a green shoe option for an additional 2.5%. The sale opened today for non-retail investors and was subscribed 1.76% by 10:30 am. Retail investors can participate starting October 17.<\/p>\n\n\n\n<p>The government owns 72.86% of the shipbuilder, which is down 42% in the last three months but up 137% year-to-date. The company posted a 77% increase in net profit at Rs 174.2 crore for Q1 FY25, which was down 33% sequentially. Order book of Cochin Shipyard stood at Rs 22,500 crore at the end of September while the pipeline was Rs 7,820 crore in shipbuilding projects.<\/p>\n\n\n\n<p><em>Do&nbsp;you have a news tip for Lakshmishree reporters? Please email us at&nbsp;<\/em>media@lakshmishree.com<\/p>\n\n\n\n<p><sub><sup>Source:\u00a0<a href=\"https:\/\/www.moneycontrol.com\/news\/business\/markets\/cochin-shipyard-slips-4-as-ofs-opens-to-sell-5-stake-at-a-discount-12842998.html\" target=\"_blank\" data-type=\"link\" data-id=\"https:\/\/www.moneycontrol.com\/news\/business\/markets\/cochin-shipyard-slips-4-as-ofs-opens-to-sell-5-stake-at-a-discount-12842998.html\" rel=\"noreferrer noopener\">Moneycontrol<\/a><\/sup><\/sub><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shares of Cochin Shipyard fell over 4% on October 16, as the government launched an offer-for-sale (OFS) to offload a 5% stake in the public sector company. The OFS is priced at a floor of Rs 1,540 per share, reflecting a 7% discount from the last closing price. The offer includes a base 2.5% stake, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4410,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[50],"tags":[507],"class_list":["post-4409","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-indian-market","tag-cochin-shipyard-ofs"],"_links":{"self":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/4409","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/comments?post=4409"}],"version-history":[{"count":1,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/4409\/revisions"}],"predecessor-version":[{"id":4411,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/4409\/revisions\/4411"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media\/4410"}],"wp:attachment":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media?parent=4409"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/categories?post=4409"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/tags?post=4409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}