The Cochin Shipyard Limited (CSL) has proposed issuance of an Initial Public Offer (IPO) to finance its two major infrastructure expansion projects, Minister of State for Shipping Mansukh Lal Mandaviya said on Tuesday.
The two projects include construction of a new dry dock at a cost of Rs 1,799 crore and an international ship repair facility at a cost of Rs 970 crore, he said in a written reply to a question in the Rajya Sabha.
"In order to finance these projects, an IPO has been proposed. The entire proceeds of the funds raised through IPOs will be used for partial funding of the projects," Mandaviya said.
--IANS
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