Coal India OFS today, govt seeks to offload 3% stake for Rs 4200 cr, share price tanks 5%; check 10 key details

Coal India share price tanked 4.8% to Rs 229.55 today ahead of the central government’s bid to divest up to 3% equity stake in the company through offer for sale of shares (OFS). The Centre is likely to raise about Rs 4,200 crore from the sale of the full 3% stake at the base price of Rs 225 per share, which is at a 7% discount to yesterday’s closing price of Rs 241.2.

Here are the top 10 things to know about the Coal India OFS today:

1. The government will offload a 3% equity stake in Coal India, including a green shoe option to further sell an additional 1.5% over the base offer. The size of the OFS is expected to be about Rs 4,200 crore.