The government will sell up to 2 per cent stake in Coal India through an offer for sale at a floor price of Rs 412 apiece beginning Wednesday.
The sale of up to 2 per cent stake or about 12.32 crore shares at Rs 412 apiece would fetch about Rs 5,000 crore to the exchequer.
The OFS (offer for sale) will open for non-retail investors on May 27, and for retail investors on May 29.
“Government of India announces OFS in Coal India Limited with a base offer of 1 per cent of its equity and an additional 1 per cent Green Shoe Option in case of oversubscription. Floor price fixed at Rs 412 per share,” Department of Investment and Public Asset Management (DIPAM) Secretary Arunish Chawla said in a post on X.
Shares of Coal India closed at Rs 458.25 on the BSE on Tuesday, up 0.25 per cent from the previous close.
The floor price of Rs 412/share is at a 10 per cent discount over the current market price.
With strong operational and financial performance, consistent returns and attractive …
