New Delhi, July 7 -- The Centre on Tuesday decided to exercise the full green-shoe option in the offer for sale (OFS) of Cochin Shipyard Ltd after the issue attracted strong demand from institutional investors on the first day of bidding.

"The Offer for Sale in Cochin Shipyard Ltd received an overwhelming response from investors and was oversubscribed 3.52 times on Day 1. The government has decided to exercise the entire green-shoe option," the department of investment and public asset management (Dipam) secretary Arunish Chawla said on social media platform X.

With the exercise of the green-shoe option, the government will now sell the full 5.04% stake in the state-owned shipbuilder, comprising the base offer of 2.52% and an additional...