Cochin Shipyard surges 20% after a quite debut
11/08/2017
Cochin Shipyard, the largest shipbuilding and maintenance facility in India, made a quite debut on the Bombay Stock Exchange at Rs 435, up 0.69 per cent above its listing price of Rs 432, in otherwise weak market conditions. In a similar trend, shares of the company, which had got overwhelming response for its initial public offering, listed at Rs 440.15, 1.88 percent higher than the issue price on the National Stock Exchange. However, the company’s shares recovered strongly later in the day and rose as much as 20.83 per cent against the issue price to trade at Rs 522.00. In the day’s trade so far, stocks hits intra-day high and low of Rs 522.00 and Rs 435.00, respectively. In a similar fashion, stocks of company were trading 19.99 per cent lower at Rs 528.15 apiece on the National Stock Exchange. “The equity shares of Cochin Shipyard Ltd (Scrip Code: 540678) are listed and admitted to dealings on the Exchange in the list of 'B' Group Securities,” said the company in a filing to the Bombay Stock Exchange. The initial share sale offer of Cochin Shipyard garnered strong demand from investors with the issue getting oversubscribed 76.12 times on the last day of the bidding, reported PTI. The IPO, to raise up to Rs 1,468 crore, received bids for over 258 crore shares against the total issue size of 3,39,84,000 shares, data available with the NSE showed. Meanwhile, the broader benchmark BSE Sensex was trading at 31,260.17, down 271.16 points, or 0.86 per cent, at 13:30 hours.
11/08/2017
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Cochin Shipyard, the largest shipbuilding and maintenance facility in India, made a quite debut on the Bombay Stock Exchange at Rs 435, up 0.69 per cent above its listing price of Rs 432, in otherwise weak market conditions. In a similar trend, shares of the company, which had got overwhelming response for its initial public offering, listed at Rs 440.15, 1.88 percent higher than the issue price on the National Stock Exchange. However, the company’s shares recovered strongly later in the day and rose as much as 20.83 per cent against the issue price to trade at Rs 522.00. In the day’s trade so far, stocks hits intra-day high and low of Rs 522.00 and Rs 435.00, respectively. In a similar fashion, stocks of company were trading 19.99 per cent lower at Rs 528.15 apiece on the National Stock Exchange. “The equity shares of Cochin Shipyard Ltd (Scrip Code: 540678) are listed and admitted to dealings on the Exchange in the list of 'B' Group Securities,” said the company in a filing to the Bombay Stock Exchange. The initial share sale offer of Cochin Shipyard garnered strong demand from investors with the issue getting oversubscribed 76.12 times on the last day of the bidding, reported PTI. The IPO, to raise up to Rs 1,468 crore, received bids for over 258 crore shares against the total issue size of 3,39,84,000 shares, data available with the NSE showed. Meanwhile, the broader benchmark BSE Sensex was trading at 31,260.17, down 271.16 points, or 0.86 per cent, at 13:30 hours.
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