Coal India has announced that the government will be selling up to 9% of its stake in the prized public sector company as part of its ambitious disinvestment plan.
Coal India has announced that the government will be selling up to 9% of its stake in the prized public sector company as part of its ambitious disinvestment plan. The company announced a two-day-window for the sale of stakes via Offer for Sale (OFS) and greenshoe option.
In the April-June period, the government had sold 0.225% of Coal India stakes by way of placing shares in ‘Bharat 22-ETF’. The government currently owns 78.32% in Coal India.
Coal India stake sale begins today: All you need to know
- 18.62 crore via OFS
- 37.24 crore via greenshoe option
- The floor price of Rs 266 per share
- Discount of 4%
- The option of an additional discount of 5% to retail investors
Date & Time:
- October 1
- 9.15 AM to 3.30 PM
Non-retail investors (Rules)
- October 31, 2018 (T-day): Non-Retail Investors can place their bids only on the T day. While placing their bids the non-Retail Investors may indicate their willingness to carry forward their un-allotted bids to T+1 day (Nov 1) for allocation to them in the unsubscribed portion of Retail Category
- November 01, 2018 (T+1 day): Such non-Retail Investors who have placed their bids on T day and have chosen to carry forward their un-allotted bids to T+1 day, shall be allowed to revise their bids on T+1 day as per the OFS Guidelines
Retail Investors (Rules)
- November 01, 2018 (T+1 day): Retail Investors shall be allowed to place their bids only on T+1 day
- They may get an additional discount of 5%