The Coal India disinvestment bid received an overwhelming response yesterday, as the OFS was oversubscribed 346% by institutional investors. As a result, the government plans to exercise the green shoe option of divesting an additional 1.5% stake today, a portion of which will be open to retail investors. Despite the positive response to the OFS, Coal India share price tanked 4.4% in trade to Rs 230 apiece on Thursday.
Coal India OFS: Day 1 subscription
9.24 crore shares were offloaded by the government yesterday, for which 28.76 crore bids were received.
