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Cochin Shipyard Files Papers For IPO With SEBI

Cochin Shipyard Files Papers For IPO With SEBI:

As told Cochin Shipyard Ltd is looking for IPO to raise money from market and can file draft papers with SEBI soon. Now as per latest update Cochin Shipyard files paper with market regulator SEBI for launching its IPO.

Cochin Shipyard can raise Rs 1400- Rs 1500 crore from the IPO.

The company — the largest public sector shipyard in India in terms of dock capacity — caters to the defence sector as well as commercial sector worldwide. The initial public offer (IPO) comprises fresh issuance of 22,656,000 equity shares and an offer for sale of 11,328,000 equity scrips by the government, the company said in a statement.

The equity shares will have a face value of Rs 10 and the price band will be decided in consultation with the Book Running Lead Managers (BRLMs).

Proceeds from the fresh issue will be utilised towards setting up of a new dry dock within the existing premises of the company, setting up of an international ship repair facility at Cochin Port Trust area and for other general corporate purposes.

SBI Capital Markets, Edelweiss Financial Services, JM Financial Institutional Securities will manage the IPO.

Market Update:

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Now Avanue Supermarts (Dmart) IPO Allotment and Listing also completed. And people made an awesome 100% profit on listing.

Now CL Educate (CLEL) IPO bidding has been closes on March 22, 2017. Now CL Educate (CLEL) IPO Allotment and Listing will be in process. While Shankara Building Products Ltd IPO (SBPL IPO) bidding also closed on 24 March 2017. Now Shankara Building Products IPO Allotment and Listing will be in process.

Grey Market Premium (GMP) of CL Educate IPO (CLEL IPO) is still now active. While Grey Market Premium (GMP) of Shankara Building Products Ltd (SBPL) IPO is trading between Rs 124 – Rs 126 per equity share.

Next in the pipeline will be HUDCO IPO,  Central Depository Services Ltd IPO (CDSL IPO)  and Continental Warehousing Corporation Ltd IPO (Nhava Seva IPO).

Some SME IPO will also be active in market in coming week.

This year we can see some good IPO hitting market like NSE Ltd IPOHDFC Standard life insurance, SBI life insurance etc.

Keep watching this blog to keep yourself updated with all the news.

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