Cochin Shipyard makes stellar debut; surge 22% against IPO price

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Cochin Shipyard News

Cochin Shipyard has made a stellar debut by listing at Rs 461, a 8% premium against its initial public offer (IPO) price of Rs 412 on BSE (Bombay Stock Exchange).
At 03:30 am; the stock was trading at Rs 528.15, after hitting high of Rs 528.15 on NSE. It touched a low of Rs 432 in intra-day trade so far. Around 27,617,037 equity shares changed hands on the counter, the NSE data shows.
Cochin Shipyard Rs 1458 crore IPO had received a robust response from the retail investors with the issue getting subscribed nearly 76.19 times.
The company issued 22,656,000 shares at price of Rs 412 per share.
The portion reserved for retail individual investors subscribed by 8.12 times, while QIB portion was subscribed by 63.51 times,while NII portion was subscribed by 288.87 times.
Cochin Shipyard proposed to OFS(Offer for sell) by the promoters of the company.

Cochin Shipyard  is one of the top defence companies of India.

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