Centre to offload up to 2% stake in Coal India through OFS, sets floor price at Rs 412 per share
The sale could raise about Rs 5,000 crore as the government seeks to trim its holding in the state-run miner.
- On Tuesday, the Government of India announced an Offer for Sale in Coal India Limited with a floor price of Rs 412 per share, enabling up to 2% equity divestment through a 1% base offer and 1% Green Shoe Option.
- The sale advances India's broader divestment and asset monetisation program targeting 800 billion rupees for fiscal year 2027, following an 8% stake sale in Central Bank of India earlier this week.
- At the floor price, the base offer is valued at Rs 2,539 crore with total potential proceeds reaching Rs 5,078 crore, representing about 10.1% discount to Coal India's last closing price of Rs 458.15 on May 26.
- DIPAM Secretary Arunish Chawla stated CIL offers "strong operational and financial performance, consistent returns and attractive dividends," while the government retains 63.13% control and the OFS improves public float and fiscal receipts.
- The OFS mechanism allows transparent share sales through stock exchanges, with up to 25,000 shares available to eligible employees and retail allotment occurring at a cut-off price discovered in non-retail bidding.
16 Articles
16 Articles
Coal India OFS opens for non-retail subscription
New Delhi: The government’s up to 2 per cent stake sale in Coal India opened for non-retail investors on Wednesday, May 27, at a floor price of Rs 412 a share, which is expected to fetch around Rs 5,000 crore to the exchequer. Through the two-day offer for sale (OFS), the government is selling over 12.32 crore shares or up to 2 per cent stake, including a green-shoe option of 1 per cent. Retail investors will bid in the OFS on May 29. May 28 is …
Coal India Share Price: PSU stock falls over 6% as s two-day OFS opens, check floor price and other details
Shares of state-owned Coal India Ltd (CIL) fell over 6 per cent in early trade on Wednesday as the government's offer for sale (OFS) of up to a 2 per cent stake opened for subscription for non-retail investors. The OFS for retail investors will open on May 29, 2026. The sale of up to a 2 per cent stake, or about 12.32 crore shares, at Rs 412 apiece would fetch about Rs 5,000 crore for the exchequer. ALSO READ | LIC's 'New Jeevan Sathi' joint lif…
Government launches Rs 5,000 cr Coal India OFS; floor price set at Rs 412, 10% discount to market - The Tribune
The Government of India has announced an Offer for Sale (OFS) in Coal India Ltd (CIL), aiming to divest up to 2% stake in the state-run miner through a base offer and green shoe option, with a floor price fixed at Rs 412 per share. The total issue size is pegged at approximately Rs 5,000 crore at the floor price.
Government launches Rs 5,000 cr Coal India OFS; floor price set at Rs 412, 10% discount to market
The Government of India has announced an Offer for Sale (OFS) in Coal India Ltd (CIL), aiming to divest up to 2% stake in the state-run miner through a base offer and green shoe option, with a floor price fixed at Rs 412 per share. The total issue size is pegged at approximately Rs 5,000 crore at the floor price.
Centre to offload up to 2% stake in Coal India through OFS, sets floor price at Rs 412 per share
The government plans to raise approximately Rs 5,000 crore by selling up to a 2% stake in Coal India through an Offer for Sale (OFS). The floor price is set at Rs 412 per share, nearly 10% below the current market price. This move follows a successful OFS in Central Bank of India.
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