Shares of defense PSU Cochin Shipyard dropped about 5% to a day's low of ₹1,590 on the BSE following the start of a two-day offer for sale (OFS) in which the government plans to sell up to 5% of its stake.
The floor price for the OFS is set at ₹1,540 per share, representing an 8% discount to Tuesday's closing price of ₹1,673.
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