Cochin Shipyard IPO today,shipbuilders paddle grim biz
Cochin Shipyard IPO today,shipbuilders paddle grim biz
While state-owned Cochin Shipyard is coming up with its initial public offer (IPO) on Jul' 25, efforts made by private shipbuilders to revive their businesses have been in vain. Government is trying to boost domestic shipbuilding sector for quite some time, It is due to this IPO that sector has come into some limelight,Cochin Shipyard, country’s largest public sector shipyard, will see a 10% disinvestment by government & a 20% fresh issue of shares. After this IPO,government will hold 75% share in shipbuilder while balance 25% shares will be held by public.Domestic private shipbuilders continue to grapple with grim business climate despite restructuring.
