Shares of Cochin Shipyard listed today with modest gains, but, jumped thereafter to hit the 20% upper circuit limit on the NSE. It was last locked at Rs 528.15 per share with only buyers in the counter.
The initial share sale offer of Cochin Shipyard was oversubscribed 76.19 times during August 1-3. The portion reserved for qualified institutional buyers (QIBs) was oversubscribed 63.52 times, noninstitutional investors 288.87 times and retail investors 8.51 times.
The price band for the Rs 1,468 crore IPO was Rs 424-432. SBI Capital Markets, Edelweiss Financial Services, and JM Financial Institutional Securities were the book running lead managers to the issue.