The Indian government has announced plans to divest up to 5.04% of its stake in Cochin Shipyard Ltd through an offer for sale (OFS).
The transaction sets a floor price of Rs 1,400 per share, with the offer opening for non-retail investors on July 7 and retail participants on July 8.
The move follows a recent announcement regarding a 2% stake sale in Indian Railway Finance Corporation (IRFC), signaling a sustained government push to raise capital through partial disinvestments.
A green-shoe option is also included in the structure, allowing for potential oversubscription management.
This development intensifies selling pressure on Indian public sector undertakings (PSUs), as investors brace for increased equity supply.
The move follows a recent announcement regarding a 2% stake sale in Indian Railway Finance Corporation (IRFC), signaling a sustained government push to raise capital through partial disinvestments.
Market participants are closely monitoring these transactions for signs of broader valuation resets in the PSU sector.