Gol sold a 5% stake in Cochin Shipyard Limited for ₹2,026 crore.
Banking & Finance
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.
- 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).
Main Points:- (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.
About Cochin Shipyard Limited (CSL)
CMD : Madhu S. Nair
Headquarters: Kochi, Kerala
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