Cochin Shipyard IPO on the cards
The government is planning to list Cochin Shipyard and has invited bids from merchant bankers for managing the initial public offering (IPO). The IPO will be of over 3.39 crore shares.This would include fresh issue of over 2.26 crore shares and government diluting 10% stake or over 1.13 crore shares.
The merchant bankers interested in managing the IPO have to submit their bids by June 6, the department of investment and public asset management (DIPAM) said while inviting expression of interest.
The net worth of the company as on March 31 was Rs 1,838 crore. Government currently holds 100% stake in the PSU, which is under the administrative control of the shipping ministry .
“A part of the public offering may be reserved for company employees,“ DIPAM said.
Sambad e-Paper 19/05/2016 : http://sambadepaper.com/epapermain.aspx