Cochin Shipyard IPO subscribed 3.16 times on Day 2

The initial share sale offer of Cochin Shipyard was subscribed 3.16 times on the second day of the three-day bidding on Thursday.

The IPO received bids for 10,72,21,140 shares against the total issue size of 3,39,84,000 shares, data available with the NSE showed.

Public sector unit Cochin Shipyard aims to raise up to Rs 1,468 crore through its share sale offer. The portion reserved for qualified institutional buyers (QIBs) was subscribed 3.41 times, non institutional investors 0.82 times and retail investors 4 times.

The IPO is in a price band of Rs 424-432 and will close today. Till close of bidding on Tuesday, the issue was subscribed 92 per cent. SBI Capital Markets, Edelweiss Financial Services and JM Financial Institutional Securities are the book running lead managers to the issue.