Cochin Shipyard shares drop 4% as Govt OFS at ₹1,400 floor price

A view of Cochin Shipyard Ltd (CSL), the largest shipbuilding and maintenance facility in India.

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Shares of Cochin Shipyard Ltd fell sharply in early trade on Tuesday, sliding 4.19 per cent to ₹1,443.30 by 9.47 am, as the government’s Offer for Sale opened for non-retail investors at a floor price of ₹1,400 per share, a discount of around 7 per cent to Monday’s close of ₹1,506.40.The stock opened at ₹1,451.20, touched an intraday low of ₹1,437.50, and saw heavy selling pressure with traded volume hitting 14.53 lakh shares worth ₹210.55 crore within the first hour. Sell orders outpaced buy orders, with 59.29 per cent of total quantity on the sell side versus 40.71 per cent on the buy side.The Ministry of Ports, Shipping and Waterways, acting on behalf of the President of India, announced the OFS on Monday with a base offer size of 2.52 per cent of the company’s paid-up equity capital, or 66.29 lakh shares, with an equal oversubscription option taking the total potential dilution to 5.04 per cent. The floor price of ₹1,400 was set with no retail or employee discount. Retail investors can bid on Wednesday, July 8.SBI Securities flagged the OFS as negative in the near term, a view reflected in the morning sell-off.The stock’s weakness comes against a broader context of underperformance: it has declined nearly 30 per cent over the past year and is down over 11 per cent year-to-date, even as the Nifty CPSE index has gained nearly 5 per cent in the same period. The 52-week high stands at ₹2,186, hit in June 2025.Published on July 7, 2026