The Centre on Monday clarified that it is not considering any disinvestment in Cochin Shipyard Ltd at present, dismissing reports that suggested a stake sale in the state-owned shipbuilder.
Reports Suggested 6-8% Stake Sale
Media reports had claimed that the government was exploring an offer for sale (OFS) of 6% to 8% in Cochin Shipyard as part of its disinvestment strategy. The proposed transaction was expected to raise more than Rs 16,000 crore, depending on the size and pricing of the issue.
The reports also indicated that shares could be offered at a discount to the prevailing market price to attract investors, although no final decision had been taken on the issue size or floor price.
Government Holds Majority Stake
According to the latest shareholding data, the President of India owns a 67.91% stake in Cochin Shipyard, while Life Insurance Corporation of India holds 3.34%.
Sources had earlier suggested that a decision on stake dilution could be taken over the next three to six months, depending on market conditions. However, the Centre has now ruled out any immediate plan to reduce its holding.
Strong Start to FY27 Disinvestment Drive
The clarification comes as the government’s disinvestment programme has gathered pace in the first quarter of FY27.
Stake sales in Coal India, NHPC, NLC India, Central Bank of India and General Insurance Corporation of India have helped mobilise nearly Rs 14,000 crore so far.
Rs 80,000-Crore Monetisation Target
Government receipts from disinvestment are expected to exceed Rs 15,000 crore during the April-June quarter, supporting fiscal consolidation efforts.
For FY27, the Centre has set an asset monetisation target of Rs 80,000 crore, which includes the strategic disinvestment of IDBI Bank and stake sales in selected public sector enterprises
