Cochin Shipyard plans public issue for funding expansion (Live mint.com 21th Feb 2108)The Union government-owned Cochin Shipyard Ltd plans an initial public offering (IPO) to fund an expansion plan even as the country scales up its shipbuilding capabilities to tap into a global boom in the business. The plan involves building a new dry dock, which typically costs Rs800-1,000 crore. A dry dock is a narrow basin that can be flooded to allow a ship to be floated in, then drained to allow that ship to come to rest on a dry platform. Dry docks are used for the construction, maintenance and repair of ships. “We have submitted a proposal to the shipping ministry for constructing a new dry dock at the yard which could be funded through a sale of new shares to the public,” said a company executive, who did not want to be named because he is not authorized to speak to the media. If and when the ministry clears the proposal, Cochin Shipyard will become the first state-owned shipbuilding yard to ...
This is my investment scrapbook. My request to viewers would be to use their own judgment before taking call on any shares mentioned here. Moreover, although I always try to be accurate and correct , there is no guarantee of the accuracy and correctness of the information provided here. Viewers would be using information provided here at their own risk. I won't be liable for any loss whatsoever for transaction based on the information provided here.