State-owned stocks have been in focus in 2026 as the Indian government has already launched offers for sale (OFS) in six PSU companies, with Cochin Shipyard becoming the seventh to join the list.
However, the stake sales have received a modest response. Across all the OFS transactions announced so far this year, the government has divested a maximum of 8 per cent in any single company.
PSU companies that launched OFS in FY27
Indian Railway Finance Corporation (IRFC)
On June 24, 2026, the government launched an Offer for Sale (OFS) in Indian Railway Finance Corporation, divesting a 2 per cent stake in the company. After the completion of the transaction, the government’s shareholding reduced to 82.6 per cent from 84.6 per cent earlier.
The OFS was conducted at a cut-off price of Rs 104 per share. Of the total shares offered, 2.61 crore equity shares were reserved for retail investors, while the remaining 23.52 crore equity shares were allocated to non-retail investors.
General Insurance Corporation of India
On June 17, 2026, the Indian government launched an Offer for Sale (OFS) in General Insurance Corporation of India, divesting a 5 per cent stake in the state-owned reinsurer.
Following the completion of the transaction, the government’s stake in the company declined to 77.4 per cent from 82.4 per cent earlier.
The OFS was conducted at a floor price of Rs 352 per share. Of the total shares offered, 0.88 crore equity shares were reserved for retail investors, while the remaining shares were allocated to non-retail investors.
NLC India
On June 10, 2026, the government divested a 3 per cent stake in NLC India Limited through an Offer for Sale (OFS).
Following the stake sale, the government’s shareholding in the company declined to 69.2 per cent from 72.2 per cent earlier.
The OFS was conducted at a floor price of Rs 303 per share. Of the total shares offered, 0.42 crore equity shares were reserved for retail investors, while the remaining 3.74 crore equity shares were allocated to non-retail investors.
NHPC
On June 2, 2026, the government divested a 6 per cent stake in NHPC Limited through an Offer for Sale (OFS). Following the completion of the stake sale, the government’s holding in the hydropower company declined to 61.4 per cent from 67.4 per cent earlier.
The OFS was conducted at a floor price of Rs 71 per share. Of the total shares offered, 6.03 crore equity shares were reserved for retail investors, while the remaining 54.24 crore equity shares were allocated to non-retail investors.
Coal India
On May 27, 2026, the government divested a 2 per cent stake in Coal India Limited through an Offer for Sale (OFS). Following the transaction, the government’s shareholding in the company declined to 61.1 per cent from 63.1 per cent earlier.
The OFS was conducted at a floor price of Rs 412 per share. Of the total shares offered, 1.23 crore equity shares were reserved for retail investors, while the remaining 11.09 crore equity shares were allocated to non-retail investors.
Central Bank of India
On May 22, 2026, the government divested an 8 per cent stake in Central Bank of India through an Offer for Sale (OFS), marking the largest stake sale under the disinvestment programme during the year.
Following the transaction, the government’s holding in the lender declined to 81.3 per cent from 89.3 per cent earlier. The OFS was conducted at a floor price of Rs 31 per share.
Of the total shares offered, 7.24 crore equity shares were reserved for retail investors, while the remaining 65.17 crore equity shares were allocated to non-retail investors.
| PSU Company | OFS Date | Stake Sold | Government Holding After OFS |
| Indian Railway Finance Corporation (IRFC) | June 24 | 2% | 82.6% |
| General Insurance Corporation of India | June 17 | 5% | 77.4% |
| NLC India | June 10 | 3% | 69.2% |
| NHPC | June 2 | 6% | 61.4% |
| Coal India | May 27 | 2% | 61.1% |
| Central Bank of India | May 22 | 8% | 81.3% |
Cochin Shipyard OFS
While the OFS transactions this year have included large PSU names such as Coal India, IRFC and others, Cochin Shipyard has now become the latest state-owned company to join the list.
Here’s how the Cochin Shipyard OFS is structured:
Cochin Shipyard OFS Size
The government has announced an Offer for Sale (OFS) to divest up to a 5.04 per cent stake in Cochin Shipyard, with the issue expected to raise around Rs 1,850 crore if the entire offer is subscribed.
The OFS comprises a base offer of 2.52 per cent equity, along with an additional green-shoe option of 2.52 per cent, taking the total stake sale to 5.04 per cent.
Cochin Shipyard OFS Floor Price
The floor price has been fixed at Rs 1,400 per share, representing a discount of nearly 7 per cent to Cochin Shipyard’s previous closing price.
Cochin Shipyard OFS Timeline
The offer opened for non-retail investors on July 7, while retail investors will be able to place their bids on July 8.
Cochin Shipyard share price
As the OFS opened for non-retail investors, Cochin Shipyard shares slipped over 3 per cent to trade at Rs 1,458.50. The stock fell as low as Rs 1,437.50 earlier in the session, reflecting a decline of more than 4.5 per cent from the previous closing price of Rs 1,506.40.
Analysts on Cochin Shipyard
Rachit Khandelwal of BNK Capital remains constructive on Cochin Shipyard despite the near-term weakness following the OFS announcement.
Speaking to ET Now Swadesh, Khandelwal said that if the stock manages to close above Rs 1,370 in today’s session, it could stage a bounce-back as early as the next trading day or over the subsequent sessions.
From a technical perspective, he has identified Rs 1,540 as the first upside target. A sustained move above that level could pave the way for a rally toward Rs 1,690, indicating a positive medium-term outlook.
(Disclaimer: The above article is meant for informational purposes only and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
