Cochin Shipyard IPO subscribed 1.41 times till early trade on Day 2

Cochin Shipyard’s initial share sale offer was oversubscribed 1.41 times till early afternoon trade on the second day of bidding on Monday.

The IPO received bids for 4,77,48,420 shares against the total issue size of 3,39,84,000, data available with the NSE till 1230 hours showed.

Public sector unit Cochin Shipyard aims to raise up to Rs 1,468 crore through its share sale offer.

The IPO is in a price band of Rs 424-432 and will close on Wednesday. Till close of bidding yesterday, the issue was subscribed 92 per cent. SBI Capital Markets, Edelweiss Financial Services and JM Financial Institutional Securities are the book running lead managers to the issue. 

(With Inputs from PTI)