Gol sold a 5% stake in Cochin Shipyard Limited for ₹2,026 crore.

Banking & Finance | Dated: 26 Oct 2024

The Government of India (GoI) divested 5% of its stake in Cochin Shipyard Limited (CSL) through an Offer for Sale (OFS) at a price of ₹1,540 per share.

🎯 Key Highlights:

  • - The total value of this stake is approximately ₹2,026 crore.
  • - The aim of this sale is to attract more investment into the company and improve its operational efficiency.
  • - This action is part of GoI's broader strategy to increase revenue through disinvestment in various Public Sector Undertakings (PSUs).

💡 Other Important Facts:

  • (i) In FY25 (2024-2025), the government has raised ₹31.61 billion through various divestments, including ₹23.46 billion from its stake in the General Insurance Corporation of India (GIC Re).
  • (ii) As of June 30, 2024, the Indian government held a 72.86% stake in Cochin Shipyard.
  • (iii) On October 16, 2024, GoI sold up to 6,577,020 equity shares, representing a 2.50% stake, as a "Base Offer" for non-retail investors. Retail investors were able to participate on October 17, 2024.

📚 Test Your Knowledge:

How much stake did the Government of India recently sell in Cochin Shipyard Limited?

Correct Answer: 5%

🚀 Quick Recap:

About Cochin Shipyard Limited (CSL)

  • CMD : Madhu S. Nair
  • Headquarters: Kochi, Kerala