What was filed
Cochin Shipyard's promoter — the President of India, acting through the Ministry of Ports, Shipping and Waterways — has told the exchanges that it will exercise the oversubscription option in its ongoing offer for sale (OFS). The OFS, referenced to a Notice dated July 6, 2026, began on July 7, 2026 ("T day") for non-retail investors and continues on July 8, 2026 ("T+1 day") for retail investors and employees.
The base offer was for shares representing 2.52% of paid-up capital, with an option to sell an additional matching tranche. By exercising that option, the promoter has doubled the sale.
Size of the enlarged offer
With the oversubscription option exercised, the total offer rises to shares representing 5.04% of the company's total paid-up equity share capital. Per the filing, 10% of the enlarged offer is reserved for the retail category on T+1 day, subject to valid bids, and a separate slice is set aside for eligible employees, who may apply for shares up to ₹500,000 with allocation considered in the first instance up to ₹200,000.
Why the promoter is selling
This is a sale by the government as promoter through the stock-exchange OFS mechanism under SEBI's circulars. It is a divestment of an existing stake, not a fresh issue of shares by the company — so the sale proceeds go to the selling shareholder, and the company's own share count is unchanged. The exercise of the oversubscription option indicates the government is placing a larger block than the base offer size.