Cochin Shipyard OFS subscribed 3.52 times on Day 1; retail investors get to bid tomorrow

Government's Offer for Sale of up to 5.04% stake in Cochin Shipyard (2.52% base plus 2.52% green-shoe) was subscribed 3.52 times on Day 1 by non-retail investors at a floor price of Rs 1,400 per share. Strong institutional demand triggered exercise of the green-shoe option, pulling the government's stake down by 5.04% if fully completed. Retail investors and employees get a separate bidding window on July 8.