India’s Goa Shipyard is looking to list on a stock exchange through an initial public offering in one year, reports Times of India.
According to Shekhar Mittal, chairman and managing director of Goa Shipyard, the central government has not made any official decision regarding the IPO of the company. However, with a proven track record and a healthy balance sheet, the chances are high. Mittal expects the IPO to happen within a year.
The IPO is expected to be part of the Indian government’s efforts to disinvest its shares in state-owned companies.
Last August, Indian shipbuilding major Cochin Shipyard completed an IPO in which the central government divested shareholdings in the shipyard from 100% to 75%.
Goa Shipyard, located on the banks of river Zuari in Goa, mainly operates shipbuilding, ship repair and ship conversion businesses.