Coal India’s offer for sale: oversubscription to institutional investors’ share
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Coal India ltd.
In a two-day offer for sale, the government is selling its three per cent stake or 18.48 crore shares in the public sector coal company at a floor price of Rs 225 per share.
New Delhi. The offer for sale (OFS) to sell the government’s stake up to three per cent in Coal India (CIL) has received over-subscription to its share of institutional investors till Thursday afternoon. Bids were received for 8.74 crore shares against the total offer of 8.31 crore shares placed for institutional investors till 1:20 pm. The bidding will continue till the market closes.
In a two-day offer for sale, the government is selling its three per cent stake or 18.48 crore shares in the public sector coal company at a floor price of Rs 225 per share. It also has a green-shoe option of 1.5 per cent in case of oversubscription. Bids for retail investors will open on Friday. Coal India scrip was trading at Rs 229.60, down 4.81 per cent, on the BSE.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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