Cochin Shipyard IPO oversubscribed by 71 times on final day
Cochin Shipyard's public issue has been oversubscribed by over 71 times on its final day, receiving bids for 242.13 crore equity shares against the IPO size of 3.39 crore shares, as per data on the exchange. During the last decade (2007-2017), the company said that its sales and profits grew at a CAGR of 11.1 percent and 19 percent. At the upper end of the Cochin Shipyard IPO price band, the company would hit a market capitalisation of Rs 5,845 crore. Excluding cash (Rs 1,600 crore and Rs 979 crore from IPO proceeds) market capitalisation would come to Rs 3,250 crore, about 8x the company's EBIDTA in FY17.03-08-2017
