Cochin Shipyard shares sold by President of India total 4.58% of capital

What Cochin Shipyard announced

On 10 July 2026 Cochin Shipyard Limited (BSE: 540678) disclosed, as required under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, that the President of India – acting through the Ministry of Ports, Shipping and Waterways – has sold shares of the company. The transaction was executed through the Offer‑for‑Sale (OFS) mechanism on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). In total, 12,049,170 equity shares were sold, amounting to 4.58 % of the company’s total paid‑up equity share capital.

"The President of India, as promoter, exercised the oversubscription option and sold a total of 12.05 million shares on July 7‑8 2026."

The filing, submitted by Vipul Singhal, Director of the Ministry of Ports, Shipping and Waterways, serves to inform the stock exchanges and the market of the share disposal in compliance with the SEBI takeover regulations.

Details of the Offer for Sale

The original offer comprised two components:

1. Base Offer Size – 66,29,636 equity shares, representing 2.52 % of the total paid‑up equity. These were offered to non‑retail investors on 7 July 2026 (T‑day) and to retail investors, employees and non‑retail investors who wished to carry forward un‑allotted bids on 25 June 2026 (T+1 day).
2. Oversubscription Option – an identical tranche of 66,29,636 shares (another 2.52 %) that could be sold through a separate window if sufficient demand materialised. The promoter exercised this option in full.
3. Employee Offer – 26,308 shares (0.20 % of capital) were earmarked for eligible employees under the OFS guidelines. Employees could apply for up to Rs 500,000 worth of shares, but allocations were capped at Rs 200,000 in the first round.

The oversubscription option was exercised, resulting in the sale of 11,933,344 shares to non‑retail investors on T‑day and 115,826 shares to a mix of non‑retail, retail and employee bidders on T+1 day. Adding the employee tranche, the aggregate disposal reached 12,049,170 shares (4.58 % of capital).

Timeline and Execution

The filing confirms that the promoter complied with the two‑day reporting requirement of Regulation 29(3) by notifying the exchanges within two working days of the share sale.

Key facts at a glance

Why this matters for investors

The disclosure signals a reduction in the promoter’s stake, which can affect voting power and control dynamics, although the filing does not state the promoter’s residual holding. Because the sale was conducted through the regulated OFS route, the transaction is transparent and adheres to SEBI’s takeover framework, limiting the risk of undisclosed share movements. Investors should note that the shares were sold to a mix of institutional (non‑retail) and retail participants, potentially widening the shareholder base. No further approvals are pending for the sale itself; the filing merely satisfies the post‑transaction reporting obligation.

Conclusion

Cochin Shipyard’s promoter – the President of India – has completed the sale of 12.05 million shares, amounting to 4.58 % of the company’s equity, via an OFS on 7‑8 July 2026. The transaction fully exercised the oversubscription option and included a modest employee allocation. The filing satisfies SEBI’s Regulation 29(2) reporting requirement, and the share disposal is now reflected in the public shareholding pattern.