NEW DELHI: Institutional investors lapped up Coal India shares in this fiscal’s maiden government stake-sale, with Rs 6,500 crore bids pouring in on the first day of the offer-for-sale. The government had offered over 8.31 crore shares to institutional investors on Thursday under the offer-for-sale (OFS), but received bids for 28.76 crore shares or 3.46 times.
At the indicative price of Rs 226.12 a share, the bids of institutional buyers are worth Rs 6,500 crore.
“Offer for Sale in CIL received enthusiastic response from non-retail investors today.
