Cochin Shipyard share price: OFS kicks off, defence PSU stock falls 4%; here's why

Cochin Shipyard Ltd saw its shares dropping 4 per cent in Monday trade as the two-day offer for sale (OFS) by the government opened for non-retail investors. The stock fell as the OFS floor price was set at Rs 1,400 per share, which was at a 6.96 per cent discount to Monday's closing price of Rs 1,504.75 apiece. The government held 67.91 stake in the defence PSU at the end of March quarter.

The stock fell 4.43 per cent to hit a low of Rs 1,438 on BSE, taking its year-to-date fall to 11.11 per cent.

The OFS received non-retail bids for 9,782 shares so far against the base quota size of 59,66,672 shares at an indicative price of Rs 1,404.29 per share.

The government s looking to offload up to 66,29,636 Cochin Shipyard shares, with an option to sell up to 66,29,636 additional shares in case of oversubscription. Non-retail investors can bid today. The base offer size for them is 59,66,672 shares, with an oversubscription option of 59,66,672 shares. Total shares offered to retail, including green shoe) would be up to 1,19,33,344 shares.

Additionally, upto 26,308 shares will be offered to the eligible employees of the company, in accordance with the terms and conditions offered in the OFS guidelines. The eligible employees may apply for up to Rs 5,00,000 worth equity shares.

This would be the seventh PSU where the government has trimmed exposure in FY27 so far.
The government earlier cuts stakes in IRFC Ltd, General Insurance Corporation of India (GIC Re), NLC India Ltd, NHPC Ltd, Coal India Ltd and Central Bank of India and raised a combined Rs 18,561.16 crore.

Only non-retail investors are allowed to place their bids on today. While placing their bids, these investors may indicate their willingness to carry forward their un-allotted bids to T+1 day for allocation to them in the unsubscribed portion of retail category.

"The offer shall take place during trading hours on a separate window of the Stock Exchanges on T day, i.e., July 7, 2026 commencing at 9:15 a.m. and shall close at 3:30 p.m. Indian Standard Time on the same date," Cochin Shipyard said.

Only retail investors and employees will be allowed to bid on T+1 Day, July 8, 2026.