Cochin Shipyard shares dip 2% as govt’s OFS opens for retail investors today

Cochin Shipyard shares fell 2% as the government's Offer for Sale (OFS) opened for retail investors, with the Centre looking to divest up to a 5.04% stake (more than 1.32 crore shares) at a floor price of Rs 1,400 per share. The non-retail portion was subscribed 3.52x, prompting the government to exercise the full greenshoe option for an additional 2.52% stake, potentially fetching around Rs 1,800 crore. The OFS is part of the Centre's broader disinvestment drive, which has raised over Rs 20,000 crore since May 21 through stake sales in Coal India, NHPC, IRFC, and others.