Noida, May 27 (APAC Media): Shares of Coal India Limited fell over 6 % on Wednesday after the state-run miner announced that the government will divest up to a 2 % stake through an Offer for Sale (OFS) at a floor price of Rs 412 per share.
The floor price implies a discount of around 10 % to the previous closing price of Rs 458.15 on the National Stock Exchange (NSE).
The government on Tuesday announced an Offer for Sale (OFS) in Coal India Limited, proposing to divest 1 % equity with an additional 1 % green shoe option.
The Department of Investment and Public Asset Management (DIPAM) said the OFS will open for non-retail investors on May 27, while retail investors will be allowed to bid on May 29.
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The Offer for Sale (OFS) in Coal India Limited will open for non-retail investors on May 27, while retail investors, eligible employees, and non-retail investors carrying forward unallotted bids will be able to participate on May 29.
It may be noted that the Indian stock markets will remain closed on May 28 on account of Bakrid.
The government held over 63 % stake in the PSU as on March 31, 2026.
In a regulatory filing, Coal India said the promoter stake sale will be conducted through a separate window mechanism on the BSE and the National Stock Exchange, in accordance with SEBI’s guidelines for Offer for Sale transactions.
DIPAM stated that the floor price has been fixed at Rs 412 per share. It said the pricing represents a discount of nearly 10 % to the previous closing price of the stock.
Officials said the government expects to raise around Rs 5,000 crore if the entire 2 % stake sale, including the Green Shoe Option, is fully subscribed.
DIPAM expressed the stake sale is part of the government’s ongoing disinvestment programme aimed at meeting fiscal targets and broadening market participation.
The department said Coal India continues to remain fundamentally strong, supported by stable production, robust financials and regular dividend payouts.
Disclaimer:Â Views expressed are those of experts and do not reflect APAC Media. This is for informational purposes only, not financial advice. We are not responsible for investment decisions. Please consult a qualified financial advisor before investing.
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