Government launches OFS in Cochin shipyard to sell 2.52% at Rs 1,400 per share

The government will divest a base 2.52 per cent stake in the state-owned shipbuilder. It has also included an additional 2.52 per cent stake under the green-shoe option in case of oversubscription.

Secretary, Department of Investment and Public Asset Management (DIPAM), said in a post on X, "Government announces Offer for Sale in Cochin Shipyard Ltd (CSL) with a base offer of 2.52% of its paid-up equity and an additional 2.52% as the green-shoe option in case of over subscription."

The Secretary further said, "Floor price has been fixed at Rs.1400 per share. OFS opens for non-retail investors on 7th July 2026. Retail investors get to bid on 8th July 2026."

India's maritime sector plays a key role in the country's economy, with nearly 95 per cent of trade by volume and around 70 per cent by value moving through maritime routes.

To strengthen the sector, the government has launched several initiatives. The Maritime Development Fund (MDF), with a corpus of Rs 25,000 crore, aims to provide long-term financing to boost shipping capacity and shipbuilding.

The revamped Shipbuilding Financial Assistance Scheme (SBFAS), with an outlay of Rs 24,736 crore, seeks to address cost disadvantages for domestic shipbuilders and promote ship-breaking. The Shipbuilding Development Scheme (SbDS), with an outlay of Rs 19,989 crore, focuses on developing new shipbuilding clusters, expanding shipyards and providing risk coverage.

The government is also setting up the Indian Ship Technology Centre (ISTC) in Visakhapatnam at a cost of Rs 305 crore. The centre will focus on ship design, research and development, engineering and skill development.

The Maritime Amrit Kaal Vision 2047 serves as the government's long-term roadmap for the sector. It envisages investments of nearly Rs 80 lakh crore across ports, coastal shipping, inland waterways, shipbuilding and green shipping initiatives.

The vision also includes measures such as green shipping corridors, green hydrogen bunkering at major ports and the promotion of methanol-fuelled vessels. It outlines more than 300 initiatives aimed at making India one of the world's leading maritime and shipbuilding nations by 2047. (ANI)