MUMBAI – The government’s offer for sale (OFS) in Coal India Ltd sailed through successfully following strong response from both institutional and retail investors.
The portion reserved for institutional investors was subscribed 345% on Thursday and over 277% on Friday. The OFS, which opened for retail investors on Friday, was fully subscribed with the government getting bids for 2,58,93,371 shares, against 1,84,88,185 shares on offer.
While institutional investors have been allocated shares at Rs 226 a share, tad higher than the floor price of Rs 225, retail investors were allocated at Rs 226.10 a share. The sale of shares at Rs 226 a share could fetch the government a little over Rs 4,100 crore.
