Cochin Shipyard, India’s largest largest public sector shipyard, is planning to raise about Rs 1,400-1,500 crore through an initial public offering (IPO).

CSL has filed a Draft Red Herring Prospectus (DRHP) with the market regulator SEBI seeking permission for its IPO. The IPO comprises 33,984,000 equity shares consisting 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.

The equity shares will have a face value of Rs 10 and the price band will be decided in consultation with the Book Running Lead Managers (BRLMs).

The net proceeds from the fresh issue will be used for setting up of a new dry dock on the company’s existing premises, setting up of an international ship repair facility at Cochin Port Trust area and for general corporate purposes.

SBI Capital Markets, Edelweiss Financial Services, JM Financial Institutional Securities are the book running lead managers to the issue and Link Intime India is the registrar.

Cochin Shipyard Limited 
is the the largest public sector shipyard in India in terms of dock capacity, as of March 31, 2015, according to the CRISIL Report.