State-owned shipbuilder Cochin Shipyard on Friday said its up to Rs 200 crore share buyback offer will open on November 28. Cochin Shipyard Ltd (CSL) informed about the “Letter of Offer” to buyback 43.95 lakh equity shares constituting 3.23 per cent stake of the company in a regulatory filing.
The buyback offer will close on December 11. Edelweiss Financial Services Ltd is the manager to the buyback offer.
Last month Cochin Shipyard’s board had approved buyback of equity shares worth up to Rs 200 crore. “The board approved the buyback proposal for purchase of fully paid equity shares of Rs 10 each not exceeding 43,95,610 equity shares at a price of Rs 455 per share,” Cochin Shipyard had said.
CSL completed its landmark IPO in August last year, which attracted more than Rs 1.11 lakh crore as against the offer size of Rs 1,442 crore.
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