New Delhi selling stake in the country’s top yard

The Indian government is offloading a stake of up to about 5% in shipbuilder Cochin Shipyard. The base size of the offer has been set at 2.5%, amounting to about 6.6m shares, with an option to sell an additional 2.5% stake. The floor price of ₹1,540 ($18.3) was close to 8% discount to the stock’s …

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