Cochin Shipyard is the largest shipyard company got listed on the bourses today. The buzz in the Grey Market was very loud and based on that, it was expected that it would list at around Rs.550 as against the IPO price of Rs.432/share. And it did not disappoint – it got listed on the BSE at Rs.435.

The issue had received an overwhelming response, getting subscribed over 76 times, with the qualified institutional investors getting subscribed 63.52 times, that of non-institutional investors was subscribed 288.87 times and the retail portion at 8.51 times.

In our IPO Analysis, we had summarized, “Healthy order book, cash surplus balance sheet position, healthy margins and consistent financial performance are key positives for the issue. Enterprise value of Rs. 4,000 crore is making the pricing very attractive, which may invoke huge investor participation. Rs. 21 discount for retail investors is an added sweetener. IPO of Cochin Shipyard is a safe and sound bet, capable to deliver steady returns, making it a subscribe.”