Cochin Shipyard Ltd has appointed Shri Mukesh Mangal and Smt. Anupama T. V. as Part-time Official (Nominee) Directors on its Board, effective July 17, 2026. The appointments follow a communication from the Ministry of Ports, Shipping and Waterways (MoPSW) and the Government of Kerala, which superseded the tenures of previous nominees Shri Venkatesapathy S and Shri P.B Nooh.

Shri Mukesh Mangal, an Indian Telecom Service (ITS) officer of the 1992 batch, serves as Additional Secretary in the MoPSW. He brings over 33 years of experience in internal security, cyber security, and telecommunication technology. His current portfolio includes heading the Vigilance, Shipping Unit & Sagarmala Wing, where he oversees the development of the National Maritime Heritage Complex. He also holds government nominee directorships in several other entities, including Chennai Port Authority and Shipping Corporation of India.

Smt. Anupama T. V., a 2010-batch Indian Administrative Service (IAS) officer of the Kerala cadre, is the Secretary of the Transport Department for the Government of Kerala. She holds additional charge of the Airports, Metro Rail, and Personnel and Administrative Reforms Departments. An Electronics Engineering graduate from BITS Pilani and a Master in Public Administration from Harvard University, she has previously held key positions such as District Collector of Thrissur and Alappuzha and Food Safety Commissioner.

The new directors are not related to each other or to any existing directors of the company. Furthermore, they have not been debarred from holding the office of Director by any SEBI order or other authority, nor are they disqualified under Section 164 of the Companies Act, 2013.

Board Changes

The appointments result in the cessation of directorships for the outgoing nominees. Shri Venkatesapathy S, Joint Secretary, MoPSW, and Shri P.B Nooh, former Special Secretary, Transport Department, Government of Kerala, ceased to be Directors effective July 17, 2026.

The President of India, acting through the Ministry of Ports, Shipping and Waterways, sold 1,20,49,170 equity shares of Cochin Shipyard , aggregating to ₹1,713.28 crore, via an Offer for Sale (OFS) on July 7 and July 8, 2026. The transaction, executed on the BSE and NSE, reduced the promoter's holding from 67.91% to 63.33% of the total paid-up equity share capital. The sale was conducted under the SEBI (Prohibition of Insider Trading) Regulations, 2015, and the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Sale Details

The OFS comprised a base offer size of 66,29,636 equity shares (2.52%) and an oversubscription option for an equivalent number of shares. The promoter fully exercised the oversubscription option, offering an additional 66,29,636 shares. Additionally, 26,308 equity shares were offered to eligible employees. In total, 1,19,33,344 shares were sold to non-retail investors on July 7, 2026, and 1,15,826 shares were sold to non-retail investors, employees, and retail investors on July 8, 2026.

Shareholding Post-Transaction

Following the disposal, the promoter's holding stands at 16,66,22,069 equity shares, amounting to 63.33% of the company's total voting capital. The total equity share capital of Cochin Shipyard Limited remains 26,30,80,780 shares with a face value of ₹5 per share.