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Cochin Shipyard Ltd IPO (Cochin Shipyard IPO) Detail

Aug 1, 2017 - Aug 3, 2017

Incorporated in 1969, Cochin Shipyard Limited is one of the largest public sector shipyard in India in terms of dock capacity. They operates a shipyard that provides shipbuilding and ships/offshore structures repair services.

Cochin Shipyard's shipbuilding activities include the construction of vessels for clients operating in the defense and in the commercial sector shipping industry. In addition to shipbuilding and ship repair, they also offers marine engineering training programs as well as offer additional courses, including six months practical training for marine engineering students from colleges affiliated to universities, fire prevention and firefighting, and elementary first aid training through its marine engineering training institute; and chemical, mechanical, and non-destructive testing services of metals, welds, and alloys.

They have built and delivered vessels across broad class ifications including bulk carriers, tankers, Platform Supply Vessels (“PSVs”), Anchor Handling Tug Supply vessels (“AHTSs”), barges, bollard pull tugs, passenger vessels and Fast Patrol Vessels (“FPVs ”). They are currently building India's first Indigenous Aircraft Carrier (“IAC”) for the Indian Navy.

Company Promoters:

The President of India is the promoter of the company. The Promoter along with its nominees, currently holds 100% of the pre-Issue paid-up equity share capital of the Company.

Company Financials:

Summary of financial Information (Consolidated)
Particulars For the year/period ended (in Rs. Million)
31-Mar-17 31-Mar-16 31-Mar-15
Total Assets 33,164.37 33,488.61 28,912.85
Total Revenue 22,085.01 20,968.81 16,604.52
Profit After Tax 3,121.82 2,917.52 692.82

Objects of the Issue:

Company proposes to utilize the Net Proceeds towards funding of the following objects:

1. Setting up of a new dry dock within the existing premises of the Company (“Dry Dock”);
2. Setting up of an international ship repair facility at Cochin Port Trust area (“ISRF”); and
3. General corporate purposes.

Issue Detail:

  »»  Issue Open: Aug 1, 2017 - Aug 3, 2017
  »»  Issue Type: Book Built Issue IPO
  »»  Issue Size: 33,984,000 Equity Shares of Rs 10 aggregating up to Rs 1,468.11 Cr
    ›  Fresh Issue of 22,656,000 Equity Shares of Rs 10 aggregating up to Rs [.] Cr
    ›  Offer for Sale of 11,328,000 Equity Shares of Rs 10 aggregating up to Rs [.] Cr
  »»  Face Value: Rs 10 Per Equity Share
  »»  Issue Price: Rs 424 - Rs 432 Per Equity Share
  »»  Market Lot: 30 Shares
  »»  Minimum Order Quantity: 30 Shares
  »»  Listing At: BSE, NSE

Discount of Rs 21 is offered to RII and Employee. Discounted price band is Rs 403 - Rs 411 for Retail and Employee.

Cochin Shipyard IPO Reviews:

  1. Cochin Shipyard Ltd IPO review by Dilip Davda

Cochin Shipyard IPO Recommendations:

Capital Market Review
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Issue Subscription Detail / Current Bidding Status

Number of Times Subscribed (BSE + NSE)
As on Date & TimeQIBNIIRIIEmployeeTotal
Shares Offered / Reserved16,580,0004,974,00011,606,000824,00033,984,000
Day 1 - Aug 1, 2017 17:00 IST0.72000.22001.57000.12000.9200
Day 2 - Aug 2, 2017 17:00 IST3.41000.82004.00000.29003.1600
Day 3 - Aug 3, 2017 17:00 IST63.5125288.86818.51000.480076.1900

Cochin Shipyard IPO Prospectus

Cochin Shipyard IPO Rating

2380
4.2
Rating:Rated 4.2 stars

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Cochin Shipyard IPO Listing Date

  •   ›  Listing Date: Friday, August 11, 2017
  •   ›  BSE Script Code: 540678
  •   ›  NSE Symbol: COCHINSHIP
  •   ›  Listing In: ‘B’ Group of Securities
  •   ›  ISIN: INE704P01017
  •   ›  Issue Price: Rs 432 Per Equity Share
  •   ›  Face Value: Rs 10 Per Equity Share

Listing Day Trading Information

.
Issue Price:
Open:
Low:
High:
Last Trade:
Volume:
BSE
Rs 432.00
Rs 435.00
Rs 435.00
Rs 522.00
Rs 522.00
3,245,290
NSE
Rs 432.00
Rs 440.15
Rs 435.00
Rs 528.15
Rs 528.15
27,617,037

Cochin Shipyard IPO News Alerts

  1. Friday, August 11, 2017 12:00:00 AM
    Cochin Shipyard Ltd IPO - Listing
  2. Wednesday, August 9, 2017 12:00:00 AM
    Cochin Shipyard Ltd IPO - Allotment
  3. Thursday, August 3, 2017 12:00:00 AM
    Cochin Shipyard Ltd IPO - Close
  4. Tuesday, August 1, 2017 12:00:00 AM
    Cochin Shipyard Ltd IPO - Open

Company Contact Information

Cochin Shipyard Ltd
Administrative Building,
Cochin Shipyard Premises,
Perumanoor, Kochi - 682015
Phone: +91 (484) 2501306
Fax: +91 (484) 2384001
Email: secretary@cochinshipyard.com
Website: http://www.cochinshipyard.com

Cochin Shipyard IPO Registrar

Link Intime India Private Ltd   »  Report
   Link Intime India Private Ltd,
   C-13 Pannalal Silk Mills Compound,
   LBS Marg, Bhandup West, Mumbai 400078

Phone: +91-22-25963838
Fax: +91-22-25946969
Email: csl.ipo@linkintime.co.in
Website: http://www.linkintime.co.in

Cochin Shipyard IPO Lead Manager(s)

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Cochin Shipyard IPO Review / Comments

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1923. Immu  Oct 22, 2017 2:42:20 PM IST I Like It. | Report Abuse
It is very cheap
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1922. Manofsteel  Oct 14, 2017 11:26:35 AM IST I Like It. | Report Abuse
Expect 600 This result season. :)
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1921. LalitmananJain  Oct 10, 2017 4:06:05 PM IST I Like It. | Report Abuse
Cochin now started running new high
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1920. KING VINOD  Sep 18, 2017 5:38:12 PM IST I Like It. | Report Abuse
IPO Mentor IPO Mentor (500+ Posts, 800+ Likes)
Those who are holding 50% can hold it.
Cochin Shipyard Ltd Hold it for Long Term it will give handsome returns.
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1920.1. keyur r  Sep 25, 2017 11:49:49 AM IST I Like It. | Report Abuse
I am holding my 100%...worried to see it is trading @520
Hope it will recover soon :(
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1919. R R Patel  Sep 10, 2017 10:26:59 AM IST I Like It. 3 | Report Abuse
IPO Mentor IPO Mentor (500+ Posts, 2200+ Likes)
Upmove trend started.
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1919.1. babloo  Sep 11, 2017 12:41:36 PM IST I Like It. | Report Abuse
I am expecting 600 soon. What do You say Patel sahab. Also what if it is held for more than 1 yr.
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1919.2. R R Patel  Sep 13, 2017 9:36:15 PM IST I Like It. 1 | Report Abuse
IPO Mentor IPO Mentor (500+ Posts, 2200+ Likes)
I will not sell below 700 and hope it will come before December.
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1918. Pras IPO  Sep 12, 2017 5:04:49 PM IST I Like It. | Report Abuse
I have bought Cochin Shipyard Ltd IPOs. Should I hold them for long investment. Does it have long term returns?
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1917. Dipesh Jain  Sep 11, 2017 5:32:15 PM IST I Like It. 1 | Report Abuse
Results declared & tomorrow it will touch 600.
Hold your investment till Next year & you ll see the same stock at 800+
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1917.2. Ankitxyz  Sep 11, 2017 7:56:43 PM IST I Like It. | Report Abuse
Top Contributor Top Contributor (300+ Posts, 300+ Likes)
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1917.3. Ankitxyz  Sep 11, 2017 9:30:51 PM IST I Like It. | Report Abuse
Top Contributor Top Contributor (300+ Posts, 300+ Likes)
Good results.. will jump tomorrow
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1916. Siddharth shah  Aug 24, 2017 9:20:06 AM IST I Like It. | Report Abuse
SREI INFRA
company says:
Bharat Road Networks IPO from 6-8 September
SREI Infra''s Road Assets SPV
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1915. DSR  Aug 21, 2017 1:50:01 PM IST I Like It. | Report Abuse
Top Contributor Top Contributor (200+ Posts, 200+ Likes)
Is it fair to assume that Cochin will get support at 530 levels for short to medium term.
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1914. Vimal ya  Aug 19, 2017 9:38:37 PM IST I Like It. | Report Abuse
I have 90 ser. Sell ya hold?
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1913. Vimal ya  Aug 19, 2017 9:34:45 PM IST I Like It. | Report Abuse
New Target
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1912. jagadish abbigeri  Aug 19, 2017 8:51:01 PM IST I Like It. | Report Abuse
one month target is 700 for Cochin shipyard. hold it, buy more ......
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1911. S B Maheshwari  Aug 18, 2017 11:17:37 AM IST I Like It. | Report Abuse
This message has been removed by a moderator.
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1911.2. DSR  Aug 18, 2017 1:39:54 PM IST I Like It. | Report Abuse
Top Contributor Top Contributor (200+ Posts, 200+ Likes)
For Cochin it was on 432. RII got discount on offer price.
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1911.3. Arup jamshed  Aug 18, 2017 2:25:39 PM IST I Like It. | Report Abuse
IPO Mentor IPO Mentor (800+ Posts, 200+ Likes)
Before listing trade in grey market ,GMP
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1910. DSR  Aug 18, 2017 1:44:42 PM IST I Like It. | Report Abuse
Top Contributor Top Contributor (200+ Posts, 200+ Likes)
Sold one lot at 525.

Missed opportunity!..:(
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1909. Chem cho  Aug 14, 2017 10:46:17 AM IST I Like It. 3 | Report Abuse
IPO Guru IPO Guru (1500+ Posts, 800+ Likes)
Target was Rs 575 ,
i do not think it will move above rs 575 in one or two days

lower target than rs 547 not to be disclosed in this forum , as there are people criticise
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1909.9. DSR  Aug 23, 2017 2:19:09 PM IST I Like It. | Report Abuse
Top Contributor Top Contributor (200+ Posts, 200+ Likes)
Chem Cho: Please advise should I exit or hold? Cochin is now down to 506 level. Holding one lot only? Is there a chance of price rise after diwali?
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1909.10. Nuru  Sep 1, 2017 2:34:48 AM IST I Like It. | Report Abuse
Bhai apex ka kya result aayega aur aage kon se ipo me invest kar na chahiye reply plz
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1907. Ipo tracker  Aug 17, 2017 6:03:07 PM IST I Like It. | Report Abuse
Top Contributor Top Contributor (400+ Posts, 100+ Likes)
In IPO investments, selling on listing day gives the best returns
An analysis of 200 IPOs since 1999 shows 99 stocks had one-year returns that lagged listing day gains, 84 stocks dropped below the IPO share price band
Graphic: Ahmed Raza Khan/Mint
Ami Shah
Mumbai: It may have been prudent to sell most initial public offering (IPO) shares on the listing day rather than holding on to them for longer, a
Mint analysis of the top 200 initial share sales by issue size since 1999 shows.
Data sourced from primary market tracker Prime Database shows 177 of the top 200 IPOs have completed at least a year since their listing. Of these, 99 stocks had one-year returns that lagged behind listing day gains. The year-end price of 84 stocks dropped below the IPO issue price.
To be sure, some of these may have listed at the very end of a bull run or an economic upcycle. Looking at it another way, the one-year returns of 95 stocks trailed those of the benchmark Sensex.
The numbers get worse when two-year and three-year returns are compared with the listing day pop ( see chart). In other words, the frenzy and hype surrounding IPOs more often than not leads to good trading propositions but not investment ideas.
“The big question that investors need to consider is, ‘am I buying at a fair price or not?’” said Nilesh Shah, managing director of Kotak Mahindra Asset Management.
“In India, the mistake that retail as well as institutional investors commit is they start looking at grey market premiums and decide on their investment in the IPO,” added Shah.
The grey market is usually driven by HNIs (high net-worth individuals), who put in bids to subscribe to large chunks of an IPO, far in excess of the portion reserved for them. This pushes up the overall subscription levels for the issue and, in turn, attracts investors to buy shares in the grey market at a premium.
“That market has no scientific way of discovery. It could be rigged very easily as it is an unauthorized market,” Shah said.
Around 12 companies which have filed IPO or follow-on public offer (FPO) documents with the Securities and Exchange Board of India (Sebi) are awaiting approval. Prominent names include National Stock Exchange of India Ltd, which plans to raise around Rs10,000 crore, and SBI Life Insurance Co. Ltd and the New India Assurance Co. Ltd, which plan to raise around Rs7,000 crore each, showed Prime Database data.
Eleven other companies have filed their IPO/FPO documents and received Sebi’s approval. They collectively plan to raise Rs6,580 crore.
A few were of the opinion that selling on the listing day, was a good strategy in a bull market, and usually led to decent gains.
“People just hold on and have inertia or are greedy not to sell at a time when they can make profits. That is where they lose the opportunity to make good money,” said Prithvi Haldea, founder and chairman of Prime Database. “Then, if the prices go down, they complain of over-pricing.”
“IPOs should not be put on a pedestal and expected to perform well and forever,” he added.
The top IPO by issue size, Coal India Ltd, which raised nearly Rs15,200 crore in 2010, saw a listing day gain of 39.73%. Over one-year, two-year and three-year periods, it posted gains of 33%, 43% and 19.2% gains, respectively, from the issue price.
Over the three-year horizon, the best-performing stock was state-run Union Bank of India, which surged 688%. It was followed by Jubilant FoodWorks Ltd, which gained 683% over the first three years. State-run Canara Bank gained 553%.
Shares of Maruti Udyog Ltd (now known as Maruti Suzuki India Ltd), Bharti Tele-Ventures Ltd (now known as Bharti Airtel Ltd) and National Thermal Power Corp. Ltd (currently known as NTPC Ltd) rose 525%, 385% and 282%, respectively, in the first three years of their listing.
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1906. babloo  Aug 17, 2017 12:26:20 PM IST I Like It. | Report Abuse
Cochin Shipyard Ltd has completed its landmark IPO which was over-subscribed 75 times attracting more than Rs 1.11 lakh crore, as against the offer size of Rs 1,442 crore, the government said today.

Parts of the IPO proceeds will be utilised for expansion projects of the state-run entity.

CSL, under the shipping ministry, was listed on BSE and NSE on August 11, 2017.

"The company has raised Rs 1,442 crore from the IPO which has been a combination of fresh issue and offer for sale in the ratio of 2:1," the ministry said in a statement.

"The IPO was oversubscribed by over 75 times with more than Rs 1.11 lakh crore being raised against the offer of Rs 1,442 crore," it said.

The issue also saw a strong interest from retail segment with over 20 lakh applications, the highest in the last decade.

The qualified institutional buyers portion was over- subscribed by over 63 times and the HNI portion was over- subscribed by 287 times.

On listing, the stock opened 20 per cent higher despite the markets being low, the statement said, adding that the company had undertaken very detailed roadshows in India, Far East, Europe and US.

"The proceeds of the fresh issue part of the IPO, totalling approximately Rs 961 crores will be used by CSL for part funding two expansion projects costing Rs 2,800 crores," it said.

The projects are – a dry dock at the Cochin Shipyard premises to accommodate bigger ships for building and repair and a ship repair facility in the adjacent Cochin Port Trust premises by setting up of a ship lift and transfer system.

Cochin Shipyard was incorporated in the year 1972 as the first green field shipyard of India. As on date it is the largest public sector shipyard in India in terms of dock capacity.

CSL caters to clients engaged in the Defence sector in India and clients engaged in the commercial sector worldwide for Shipbuilding and Ship Repair. In addition to shipbuilding and ship repair, CSL also offers marine engineering training.

The company has exported around 45 ships to overseas customers and has the pride of building the first Indigenous Aircraft Carrier for the Indian Navy.

The company’s turnover rose to Rs 2,059 crore in 2016-17 from Rs 1,404 crore for the 2012-13. The Profit After Tax for the 2016-17 was Rs 322 crore, while the networth of the company as on March 2017 was Rs 2,031 crore.

Courtesy : Money Control
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1905. babloo  Aug 17, 2017 12:25:05 PM IST I Like It. | Report Abuse
Cochin Shipyard IPO a landmark IPO: Govt
"The company has raised Rs 1,442 crore from the IPO which has been a combination of fresh issue and offer for sale in the ratio of 2:1," the ministry said in a statement.

Courtesy: Money Control
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1904. Eagleye  Aug 16, 2017 8:01:32 PM IST I Like It. 4 | Report Abuse
IPO Guru IPO Guru (4500+ Posts, 13400+ Likes)
Cochin IPO
Issue Price = 432 / 412

Trading Pattern:
11-Aug VWAP = 508.26 | Delivery Volume = 1,55,12,193
14-Aug VWAP = 546.66 | Delivery Volume = 33,76,839
16-Aug VWAP = 536.64 | Delivery Volume = 10,62,132
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1904.5. DSR  Aug 17, 2017 12:10:26 AM IST I Like It. | Report Abuse
Top Contributor Top Contributor (200+ Posts, 200+ Likes)
In some cases where delivery volume is very low, price gain has really been accompanied by increasing speculative interest from traders rather than genuine buyers. Speculative interest on low delivery volume means that the stock price can fall just as fast as it rose.

A stock that trades on low volume is more exposed to sharp price movements.

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1904.6. AKH  Aug 17, 2017 8:09:20 AM IST I Like It. | Report Abuse
IPO Mentor IPO Mentor (700+ Posts, 500+ Likes)
Means delivered quantity > portion reserved for HNI and RII. On listing day it was almost 90%
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