Cochin Shipyard Approves Buyback at Rs.455

Board of COCHIN SHIPYARD has Approved a Buyback  for purchase by the Company of its own fully paid equity shares of Rs.10/- each (“Equity Shares”) not exceeding 43,95,610  equity shares representing 3.23% of the total outstanding number of equity shares in the paid-up share capital of the Company) at a price of Rs. 455/–  per equity share (“Buyback Offer Price”) for  Rs. 200,00,02,550 /.

Acceptance Ratio Calculation

a) No. of Shares Offered= 43,95,610

b) Price= Rs. 455

c) Total Amount =200 Cr

d) A Retail investor can buy 440 Shares( 2lakh/455) to participate in the buyback.

e) As per Mar 18, the number of investors having shares between 1-500 are close to ~73 Lakh.

f) The No. of Shares reserved for Retail Investor in Cochin Buyback is close ~6.60 Lakh.

g) As per the above figure, the Acceptance Ratio would be close to 9%