The IPO of India’s Cochin Shipyard (CSL) has run into trouble immediately after being approved by the government.
The plant’s unions have come out against the part-privatisation, which could be worth up to INR 7bn ($106m).
Unions claim the company has reserve funds of more than INR 10bn and say the government should invest further for expansion after making profit for years, the New Indian Express reported.
“The
