The government’s offer-for-sale (OFS) for 3 per cent stake in Coal India had a smooth start on Thursday, with institutional buyers putting in bids for 30 per cent of the shares reserved for them in morning trade.
In the two-day OFS, the government is selling over 18.48 crore shares or 3 per cent in the PSU coal producer at a floor price of Rs 225 a share. The sale includes a green shoe option of 1.5 per cent in case of over subscription.
Of this, over 8.31 crore shares are being offered to institutional bidders on Thursday.
