Cochin Shipyard OFS: Govt to exercise green-shoe option after 3.52x Day 1 subscription

The government will exercise the full green-shoe option in the Cochin Shipyard OFS after the issue was oversubscribed 3.52 times on Day 1. With this, the Centre will sell its entire 5.04 percent stake (2.52 percent base plus 2.52 percent green-shoe) at a floor price of about Rs 1,400 per share, reducing its holding to 62.87 percent. The strong response highlights sustained investor appetite for defence and shipbuilding PSUs amid the government's push for indigenous manufacturing and naval modernisation.