|Cochin Shipyard IPO Prospectus
|What Are Analysts Saying?
|Cochin Shipyard IPO: Nirmal Bang recommend subscribing to the issue|
|Nirmal Bang, 01 Aug 2017|
|On the valuation front, at the given upper price band of issue of Rs 432, Cochin shipyard is offered at PE of 18.8x its FY17 EPS of Rs 23 and FY17 EV / Ebitda of 10.5x which is lower to its peer. Nirmal Bang recommend subscribing to the issue.|
|Cochin Shipyard IPO: Way2wealth advise investors to SUBSCRIBE to the issue|
|Way2wealth, 01 Aug 2017|
|The Company has achieved ROE of 16.2% in FY17. At upper band of offer price Rs 432, the issue is being offered at a P/E multiple of 18.8xFY17 earnings and PB of multiple of 2.9xFY17. We advise investors to SUBSCRIBE to the issue.|
|Cochin Shipyard IPO: Venture Securities recommend a 'subscribe' for listing gains|
|Ventura Securities, 01 Aug 2017|
|The proposed issue is for an aggregate amount of 3,39,84,000 no of shares of Rs 10 each. This includes an offer for sale of 1,13,28,000 shares and the balance 2,26,56,000 by issue of fresh equity.|
|Cochin Shipyard IPO: Subscribe to the IPO - Rudra Shares|
|Rudra Shares and Stock Brokers, 01 Aug 2017|
|Taking into consideration, Cochin Shipyard\'s leverage market position and relationships
with customers, suppliers and other business partners to support growth and improve competitiveness, Rudra Shares recommend to SUBSCRIBE for this IPO.|
|IPO Note: Cochin Shipyard IPO - HDFC Securities|
|HDFC Sec, 31 Jul 2017|
|The Offer comprises the Fresh Issue and the Offer for Sale. CSL will not receive any proceeds from the Offer for Sale. The Company proposes to utilize the Net Proceeds towards setting up of a new dry dock and an international ship repair facility at Cochin Port Trust area.|
| Issue Details |
|Open Date: 01 Aug 17|
|Close Date: 03 Aug 17|
Rs. 1468.11 Cr
|Min Application Amount:
|Min bid (No. of shares): 30
|Listing Exchanges: BSE, NSE|
| About the Company|
|"Incorporated in 1969, Cochin Shipyard Limited is one of the largest public sector shipyard in India in terms of dock capacity. They operates a shipyard that provides shipbuilding and ships/offshore structures repair services.
Cochin Shipyard's shipbuilding activities include the construction of vessels for clients operating in the defense and in the commercial sector shipping industry. In addition to shipbuilding and ship repair, they also offers marine engineering training programs as well as offer additional courses, including six months practical training for marine engineering students from colleges affiliated to universities, fire prevention and firefighting, and elementary first aid training through its marine engineering training institute; and chemical, mechanical, and non-destructive testing services of metals, welds, and alloys.
They have built and delivered vessels across broad class ifications including bulk carriers, tankers, Platform Supply Vessels (“PSVs”), Anchor Handling Tug Supply vessels (“AHTSs”), barges, bollard pull tugs, passenger vessels and Fast Patrol Vessels (“FPVs ”). They are currently building India's first Indigenous Aircraft Carrier (“IAC”) for the Indian Navy."
| Objective of the Issue|
|"Objects of the Issue:
Company proposes to utilize the Net Proceeds towards funding of the following objects:
1. Setting up of a new dry dock within the existing premises of the Company (“Dry Dock”);
2. Setting up of an international ship repair facility at Cochin Port Trust area (“ISRF”); and
3. General corporate purposes."
| Subscription Details|
|| No of times
|Qualified Institutional Investor
|Non Institutional Investor