State-owned Cochin Shipyard has begun its IPO as it raises money for expansion.
The Indian shipbuilder had priced the stock sale at between INR 424 and INR 434 per share, giving potential proceeds of INR 14.68bn ($229m) at the top end.
The deal, which closes on Thursday, consists of 22.65m new shares and 11.32m government shares.
Cochin will bank INR 9.78bn
