Cochin Shipyard seeks govt nod for IPO

Printer Print Email Email
Mumbai: Cochin Shipyard Chairman and Managing Director M. Jitendran said that the company has sought approval from government to launch an initial public offering (IPO) to raise money to set up a new dry dock. "We have submitted a concept paper to the government, and we hope to come out with the IPO before the end of this year," he said. According to Jitendran, the new dry dock complex will require an investment of about Rs 800 crore, and will have a capacity of 175,000 DWT.