The government on Wednesday proposed to sell up to three per cent stake in Coal India Ltd through the offer for sale route from June 1.
The Offer for Sale (OFS) will be open for retail and non-retail investors on June 1 and 2.
The proposal is to offload 9.24 crore shares amounting to a stake of 1.5 per cent in the coal producer. Besides, there will be a green shoe option for selling an equal amount of stake in case of over subscription, according to a regulatory filing.
At the closing price of Rs 241.20 apiece on BSE on Wednesday, the sale of 3 per cent stake in Coal India would be worth around Rs 4,400 crore.
