^{*APPLICATIONS SUPPORTED BY BLOCKED AMOUNT (ASBA):All Bidders are required to mandatorily utilize ASBA. For details on the ASBA process, please refer to the details given in the ASBA Form and Abridged Prospectus and also please refer to “Issue Procedure” on page 416 of the RHP. ASBA Forms can also be downloaded from the websites of BSE and NSE. ASBA Forms can be obtained from the list of designated branches of SCSBs that is available on the website of SEBI at www.sebi.gov.in. ASBA Form can be obtained from Syndicate, SCSBs, Registered Brokers, RTAs and CDPs, the list of which is available on the website of SEBI at http://www.sebi.gov.in/sebiweb/home/5/33/0/0/Recognised-Intermediaries.}

• The IPO consists of 33,984,000 Equity Shares of face value of Rs 10 each.
• The Issue consists of a fresh Issue of 22,656,000 Equity Shares and an Offer for Sale of 11,328,000 Equity Shares by the President of India acting through the Ministry of Shipping.
• Bids can be made for a minimum of 30 Equity Shares and in multiples of 30 Equity Shares thereafter.
• The Floor Price is 42.4 times of the face value and the Cap Price is 43.2 times of the face value.
• Issue Opening Date – August 1, 2017 and Issue Closing Date – August 3, 2017.
• The Issue and the net Issue will constitute 25% and 24.39% respectively, of the post Issue paid-up equity share capital of the Company.

Chennai, July 25, 2017: Cochin Shipyard Limited (“Company”), the largest public sector shipyard in India in terms of dock capacity, as of March 31, 2015, according to the CRISIL Report will be launching its initial public offering (“IPO” or the “Issue”) which is scheduled to open on August 1, 2017 and Issue Closing Date – August 3, 2017, with a price band of Rs. 424 – Rs. 432 per Equity Share of face value of Rs. 10 each of the Company (the “Equity Shares”).

The IPO consists of 33,984,000 Equity shares of face value of Rs 10 each (“Equity Shares”) of the Company. The Issue consists of a fresh issue of 22,656,000 Equity Shares and an offer for sale of 11,328,000 Equity Shares by the President of India (“Offer for Sale”, and “Selling Shareholder”). The Issue includes a reservation of up to 824,000 Equity Shares for subscription by eligible employees (as defined herein) (“Employee Reservation Portion”). The Issue less Employee Reservation Portion is referred to as the Net Issue.

The Company proposes to utilize the Net Proceeds of the Issue for (i) Setting up of a new dry dock within the existing premises of the Company (“Dry Dock”), (ii) Setting up of an international ship repair facility at Cochin Port Trust area (“ISRF”) and (iii) General corporate purposes.

In terms of Rule 19(2)(b)(iii) of the Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”), the Issue is for at least 10% of the post-Issue paid-up Equity Share capital of the Company. In accordance with Regulation 26(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (“SEBI ICDR Regulations”), the Issue is being made through the Book Building Process wherein 50% of the Net Issue shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (“QIB Portion”). 5% of the QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above the Issue Price.

Further, not less than 15% of the Net Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Issue shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Issue Price. Further, 824,000 Equity Shares shall be reserved for allocation to Eligible Employees, subject to valid bids being received at or above the Issue Price. All potential Bidders shall mandatorily participate in the Issue through an Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective bank account which will be blocked by the Self Certified Syndicate Banks (“SCSBs”).

The Issue and the Net Issue will constitute 25% and 24.39% respectively, of the post Issue paid-up Equity Share capital of the Company.

SBI Capital Markets Limited, Edelweiss Financial Services Limited, and JM Financial Institutional Securities Limited are the Book Running Lead Managers (“BRLMs”) to the Issue. The Registrar to the Issue is Link Intime India Private Limited.

The Equity Shares of the Company are proposed to be listed on BSE Limited and National Stock Exchange of India Limited.

About Cochin Shipyard Limited:

The Company is the largest public sector shipyard in India in terms of dock capacity, as of March 31, 2015, according to the CRISIL Report. The Company caters to clients engaged in the defence sector in India and clients engaged in the commercial sector worldwide. In addition to shipbuilding and ship repair, they also offer marine engineering training.

As of May 31, 2017, the Company has two docks – dock number one, primarily used for ship repair (“Ship Repair Dock”) and dock number two, primarily used for shipbuilding (“Shipbuilding Dock”). Their Ship Repair Dock is one of the largest in India and enables them to accommodate vessels with a maximum capacity of 125,000 DWT (Source: CRISIL Report). Their Shipbuilding Dock can accommodate vessels with a maximum capacity of 110,000 DWT (Source: CRISIL Report).

The Company is in the process of constructing a new dock, a ‘stepped’ dry dock (“Dry Dock”). This stepped dock will enable longer vessels to fill the length of the dock and wider, shorter vessels and rigs to be built or repaired at the wider part. The Company is also in the process of setting up an International Ship Repair Facility (“ISRF”), which includes setting up a shiplift and transfer system.

In the last two decades, the Company has built and delivered vessels across broad classifications including bulk carriers, tankers, Platform Supply Vessels (“PSVs”), Anchor Handling Tug Supply vessels (“AHTSs”), barges, bollard pull tugs, passenger vessels and Fast Patrol Vessels (“FPVs”). The Company is currently building India’s first Indigenous Aircraft Carrier (“IAC”) for the Indian Navy. They have also grown their ship repair operations and are the only commercial shipyard to have undertaken repair work of Indian Navy’s aircraft carriers, the INS Viraat and INS Vikramaditya.

Disclaimer:

Cochin Shipyard Limited is proposing, subject to statutory and regulatory requirements, market conditions and other considerations, an initial public offering of its equity shares and has filed a red herring prospectus dated July 21, 2017 (“RHP”) with the Registrar of Companies, Kerala at Ernakulam on July 21, 2017. The RHP will be available on the website of the SEBI at www.sebi.gov.in, BSE at www.bseindia.com, NSE at www.nseindia.com and the websites of the Book Running Lead Managers at www.sbicaps.com, www.edelweissfin.com and www.jmfl.com. Any potential investor should note that investment in Equity Shares involves a high degree of risk. For details, potential investors should refer to the section titled “Risk Factors” in the RHP. Investors should not refer to the draft red herring prospectus filed with SEBI for making any investment decision.

This announcement has been prepared for publication in India and may not be released in or distributed into the United States. The Equity Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”) or the securities laws of any state in the United States and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable U.S. state securities laws. Accordingly, the Equity Shares are being offered and sold (i) in the United States only to persons reasonably believed to be “qualified institutional buyers” (as defined in Rule 144A under the Securities Act) pursuant to Rule 144A or another available exemption from the registration requirements of the Securities Act, and (ii) outside the United States only in offshore transactions in reliance on Regulation S under the Securities Act and pursuant to the applicable laws of the jurisdiction where those offers and sales occur.