Coal India stake sale begins today: Price, time, rules, how to buy – All you need to know

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Published: October 31, 2018 8:12:39 AM

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.In the April-June period, the government had sold 0.225% of Coal India stakes by way of placing shares in ‘Bharat 22-ETF’. (Image: Reuters)

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

Share details:

  • 18.62 crore via OFS
  • 37.24 crore via greenshoe option

Price:

  • 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%

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