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Coal India’s Offer for Sale Achieves Full Subscription from Non-Retail Investors
Coal India OFS Fully Subscribed For Non-Retail Investors
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Coal India Ltd.'s offer for sale (OFS) for non-retail investors was fully subscribed, with bids for 6.64 crore shares against an offer of 5.54 crore shares. The OFS, part of the government's disinvestment strategy, is expected to raise approximately ₹5,000 crore.
- 01The OFS received bids for 6.64 crore shares, exceeding the offer size of 5.54 crore shares, resulting in a 119.88% subscription.
- 02The floor price for the shares was set at ₹412, compared to the last traded price of ₹444.85.
- 03The total issue size of the OFS is ₹5,000 crore, including a green shoe option of ₹2,500 crore.
- 04Since its IPO in 2010, the government has raised approximately ₹52,000 crore from stake sales in Coal India.
- 05The latest stake sale involves a 2% stake at an indicative price of ₹412 per share.
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The offer for sale (OFS) of Coal India Ltd. for non-retail investors was fully subscribed, with bids totaling 6.64 crore shares against an offer of 5.54 crore shares, achieving a subscription rate of 119.88%. The OFS opened on May 27, with the retail portion set to commence on May 29. The government fixed the floor price at ₹412 per share, while the last traded price was ₹444.85. The total issue size of the OFS is ₹5,000 crore, which includes a base size of ₹2,500 crore and a green shoe option of another ₹2,500 crore. This sale is part of the government's broader disinvestment strategy and adds to the proceeds from previous stake sales in Coal India, which have generated around ₹52,000 crore since the company’s IPO in 2010. The government has conducted multiple stake sales over the years, including a 10% stake sale in 2015 and a 3% stake sale in 2023.
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The successful subscription of the OFS indicates strong investor interest, which may influence future government disinvestment strategies.
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