The government launched an Offer for Sale (OFS) to divest up to a 5.04% stake in Cochin Shipyard, setting the floor price at ₹1,400 per share. On the day the OFS opened, Cochin Shipyard shares fell as much as 4% to ₹1,445 on the NSE, opening at ₹1,451.20 compared to the previous close of ₹1,524.10, according to livemint.com.
The OFS was announced to allow non-retail investors to purchase shares in the state-owned shipbuilding company. The government set the floor price at ₹1,400 per share, which triggered a decline in the stock price as investors adjusted to the offering. The shares opened lower on the NSE and traded down by 4% during the session, reflecting market reaction to the sale, per livemint.com and thehindubusinessline.com.
This stake sale is part of the government's broader disinvestment strategy to reduce its holdings in public sector enterprises. Cochin Shipyard, a key player in shipbuilding and repair, has seen steady investor interest, but the OFS at a floor price below recent trading levels pressured the stock. The move aligns with recent government efforts to raise capital through minority stake sales in state-owned companies, a trend seen across sectors in India’s capital markets, as reported by livemint.com.
The OFS opened on July 7, 2026, for non-retail investors, with the government aiming to raise funds by selling up to 5.04% of Cochin Shipyard's equity. The stock’s opening price and subsequent decline provide a benchmark for investor appetite and pricing for the stake sale, according to livemint.com.