1. Cochin Shipyard surges 21% on market debut

Cochin Shipyard surges 21% on market debut

Cochin Shipyard made its debut on the bourses on Friday, listing on the Bombay Stock Exchange (BSE) at Rs 435, or just 0.69% above its issue price of Rs 432, but ended at Rs 522, or 20.8% over the issue price. After the listing, the stock commands a market capitalisation of Rs 7,095.86 crore.

By: | Mumbai | Updated: August 12, 2017 4:18 AM
Cochin shipyard, cochin shipyard profits, cochin shipyard market debut, market debut cochin shipyard After the listing, the stock commands a market capitalisation of Rs 7,095.86 crore.

Cochin Shipyard made its debut on the bourses on Friday, listing on the Bombay Stock Exchange (BSE) at Rs 435, or just 0.69% above its issue price of Rs 432, but ended at Rs 522, or 20.8% over the issue price. After the listing, the stock commands a market capitalisation of Rs 7,095.86 crore. The initial public offering (IPO) of Cochin Shipyard was subscribed 75.98 times on August 3, the concluding day of the issue. Investors bid for 258.21 crore shares of the 3.39 crore shares on offer. The public sector company had priced its IPO aimed at raising Rs 1,468 crore in a price band of Rs 424 to Rs 432.

The qualified institutional buyers bid 105.31 crore shares on the third day of the IPO. Non-institutional investors (NII) bid for 143.68 crore shares of the 49.74 lakh shares reserved for them, bidding 288.87 times, and retail investors bid for 9.18 crore shares of the 1.60 crore shares reserved.

SBI Capital Markets, Edelweiss Financial Services and JM Financial Institutional Securities are the book running lead managers to the offer.

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