Coal India offer for sale: Institutional part subscribed 1.6 times
The central government’s first major disinvestment for the 2023-24 financial year (FY24) proved a success as its Rs 4,160-crore offer for sale (OFS) in Coal India garnered bids worth Rs 6,500 crore on Thursday from institutional investors, or 1.6 times the share on offer.
According to data provided by the stock exchanges, most bids came at around Rs 226 per share, slightly higher than the Rs 225 floor price set by the government. Shares of Coal India, though, declined by 4.4 per cent to end at Rs 231 on the BSE. In the past one year, shares of the state-owned miner have traded at a weighted average price of Rs 220.
