Shipbuilders go through grim scenario; Cochin Shipyard IPO to open on Aug 1

Buyouts, realignments bringing no change; govt defence deals new focus area for major players

Realignments in the domestic shipbuilding industry over the past four years have not improved business prospects for key players in the sector. While state-owned Cochin Shipyard is coming up with its initial public offering, August 1 to August 3, efforts made by private shipbuilders to revive their businesses have been largely in vain.

“The government is trying to boost the domestic shipbuilding sector for some time now. It is due to this IPO that the sector has come into the limelight,” Hitesh Avachat, deputy manager, CARE Ratings, said. “Otherwise prospects for the shipbuilding industry continue to remain dull in the