Mumbai, May 26 (SocialNews.XYZ) The Centre will sell up to a 2 per cent stake in public sector mining giant Coal India Limited (CIL) through an offer for sale (OFS) from May 27 to May 29, the company informed the stock exchanges on Tuesday.
The floor price for the offer has been set at Rs 412 per equity share, which represents a 10 per cent discount on Tuesday’s closing price of Rs 455.90 on the National Stock Exchange (NSE).
The government has proposed to sell 6.16 crore equity shares, constituting 1 per cent of Coal India’s total paid-up equity capital, as the base offer size. The government also retains an oversubscription option to sell an additional 6.16 crore shares, taking the total potential size of the offer to 12.32 crore shares, which works out to 2 per cent of the total equity.
The OFS will be thrown open for non-retail investors on May 27, while retail investors, eligible employees, and non-retail investors carrying forward unallotted bids can participate on May 29. There is a day’s gap as the Indian stock markets will remain closed on May 28 (Thursday) because of the Eid holiday.
The share sale will be carried out through a separate window mechanism on BSE and the National Stock Exchange in accordance with the Securities and Exchange Board of India’s OFS guidelines.
In addition, up to 25,000 equity shares may be offered to eligible employees of Coal India, subject to approval from the competent authority. Eligible employees can bid for shares worth up to Rs 5 lakh.
Coal India had announced a net profit of Rs 10,908 crore for the Jan-March quarter of 2025-26, which represented a 12 per cent increase over the same quarter of the previous financial year. The company’s revenue from operations rose by 6 per cent to Rs 46,490 crore during the quarter.
The company’s board declared a final dividend of Rs 5.25 per share for 2025-26.
Source: IANS
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