One can say that for the third time, the government tasted success in the secondary sale of shares in Coal India (CIL), if the subscription numbers of institutional investors is anything to go by.
The government, which launched an offer for sale (OFS) in the world’s largest coal company on Thursday, saw the non-retail portion getting subscribed a whopping 346%.
Before this, the government had conducted an OFS to sell 3% stake in the coal major in 2018, which received good response from both institutional and retail investors. As a result, the centre managed to mop Rs 5,300 crore. Prior to that, the government did an OFS in 2015 wherein it offloaded 10% stake for over Rs 22,000 crore.
