Cochin Shipyard has hired a consortium of investment banks including SBI Capital Markets, JM Financial Institutional Securities Ltd and Edelweiss Financial Services Ltd.Mumbai: Cochin Shipyard Ltd, the state-owned company building India’s first aircraft carrier, is looking to file documents for its initial public offering (IPO) with the markets regulator by the end of this month, according to two people aware of the development. Emails sent to Cochin Shipyard, Edelweiss, SBI Capital Markets and JM Financial on Wednesday went unanswered. The IPO involves the sale of 34 million shares of Cochin Shipyard. Cochin Shipyard will be the first of India’s five state-owned ship-building companies to be publicly listed. There are three listed private-sector shipyards in the country—ABG Shipyard Ltd, Bharati Shipyard Ltd and Pipavav Defence and Offshore Engineering (now Reliance Defence Engineering Ltd).

Source: Mint September 12, 2016 18:22 UTC