Coal India to list on 4th Nov’10
Coal India’s initial public offer (IPO), the country’s largest, it subscribed more than 15 times, getting huge response for the Retail, Foreign and Domestic Investors
Its IPO issue price fixed at Rs 245 a share. The government sold 631.6 million shares or 10 per cent of its stake in Coal India, the world’s largest coal miner. The offer had a price range of Rs 225 to 245 a share.India’s largest IPO was more than 15 times subscribed by close on October 21, with most bids at the top end.
At this price, Kolkata-based Coal India, which accounts for nearly 80 per cent of coal output in Asia’s third-largest economy, would be worth $35 billion, ranking it seventh among India’s listed firms.
Individual investors and Coal India staff will get a five per cent discount on the offer price.
Its shares will begin trading on Nov. 4.
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