Coal India OFS retail book subscribed 1.4x a day after QIP garnered 1.6x

Bulk of bids came at around Rs 226 against base price of Rs 225, in first major disinvestment in FY24

Coal India, coal

BS Reporter Mumbai

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The retail portion of Coal India’s offer for sale (OFS) garnered 1.4 times subscription on Friday. Individual investors placed bids for 25.9 million shares worth nearly Rs 600 crore as against 18.5 million on offer. 

A tenth of the OFS is reserved for retail investors--those placing bids of up to Rs 200,000. A day earlier, the institutional investor portion of the OFS was subscribed 1.6 times. Through the OFS, the government has successfully managed to raise nearly Rs 4,200 crore.

The Centre’s stake in Coal India has now declined by 3 per cent to 63.13 per cent. Shares of Coal India last closed at Rs 231. The base price for the OFS was set at Rs 225. Bulk of the bids in the OFS, however, came at around Rs 226, showed stock exchange data. This was the first major disinvestment in FY24. The budget has pegged the FY23 disinvestment target at Rs 51,000 crore.


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First Published: Jun 2 2023 | 7:25 PM IST

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