Trade unions in India are gearing up for a series of protests taking aim at the government’s plans to sell a stake in Cochin Shipyard.
Protesters point out that Cochin has been the only shipyard in India that has been consistently profitable over the past five years.
A number of big names are linked with buying into the shipbuilder including Reliance.
The yard has recently filed papers for an IPO worth up to $229m, which will see the government’s stake in the yard reduce from 100% to 75%. The yard initially set out for an IPO 18 months ago, but it was delayed.