Cochin Airport Shares

Cochin International Airport Limited is an exclusive establishment with equity participation from the Government of Kerala, NRIs, Entrepreneurs, Financial Foundations and Airport Service Providers, with shareholders more than 10,000 from 29 different countries.

CIAL or the Cochin International Airport Limited is preparing to come out with an IPO or initial public offering. The IPO is estimated to be collected at an amount of Rs. 2500 Crore from the IPO.

The idea is to put up about 26% shares for sale in the CIAL or Cochin International Airport IPO limited, through the IPO book-building process. The amount estimated to be raised through this IPO will be used for various objectives.

The money from it will be used for to create the following: an Aerotropolis, a maintenance unit, a repair unit and an overhaul (MRO) unit, and also one aviation academy nearby the airport.

Cochin International Airport

Within the 26% shares, 20% will be given to the public through the IPO, while the remaining 6% is reserved for the Employee Stock Option Plan, or ESOPs, as a benefit for the employees.

Right before the IPO is introduced to the market, the CIAL will collaborate advantageously with 2 firms of international exposure to finance the projects. Thereafter it plans to build a five-star hotel, two budget hotels, a convention centre, an amusement park and a cultural park as part of the Aerotropolis that will spread over 500 acres, while the MRO is planned to be set across 40 acres.

The IPO is all set to come up in the next years and is expected to do well, as it will be more of a service provider business, rather than being dependent on the clients for complete business – like that of an airline. With hundreds and thousands of Keralites moving abroad and commuting regularly through the Cochin air station, this sure seems to be a profitable business. Let us take a look at how the IPO performs.

Financial Performance

Inspite of the uncertainties and turbulence in the international aviation/ airports sector during the year 2009-10, CIAL has been able to display a remarkable performance by being able to achieve a turnover of Rs. 211.63 Crores. This signifies a healthy growth of 22.4% over the previous year. The Profit after Tax has also gone up to Rs.77.52 Crores from Rs.59.343 Crores in the previous year which is a massive 30% increase over a year.

The Board is extremely happy to recommend a dividend of 12% (twelve percent) on the paid up value of equity shares as on 31/03/2010 for the year 2009-10 to the shareholders subject to the relevant provisions in the Articles of Association.


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