Govt to sell up to 3% stake in Coal India

The government on Wednesday proposed to sell up to three per cent stake in Coal India Ltd through the offer for sale route from June 1.

The Offer for Sale (OFS) will be open for retail and non-retail investors on June 1 and 2.

The proposal is to offload 9.24 crore shares amounting to a stake of 1.5 per cent in the coal producer. Besides, there will be a green shoe option for selling an equal amount of stake in case of over subscription, according to a regulatory filing.

TRENDING NOW

Vande Bharat Sleeper Train interior design images out - Check launch date and other details

Suzlon shares hit new 52-week high

Sebi to introduce centralised mechanism for verification in case of demise of investors from January 1

RVNL, Titagarh Systems, Raymonds: Stocks to watch out for on Wednesday

CCI approves Kedaara Capital Fund's acquisition of 1.74% equity stake in Lenskart, also clears acquistion of majority stake in Indira IVF by Zonnebaars

ICC World Cup 2023 Opening Ceremony: Event called off, or still on? Here's all we know

Competition Commission of India approves proposed acquisition of Lanco Amarkantak Power Limited

Google Pixel 8 launch event live streaming: When and where to watch, check date and timing details

Amazon begins Kickstarter sale ahead of Great Indian Festival: 5 top smartphone deals offering upto 50% off

Top-5 mutual funds that have given the highest returns year to date

ICC World Cup 2023: Disney+ Hotstar introduces MaxView feature to stream matches in vertical mode - Details

AMFI rejig: IRFC, Polycab and Jio Financial Services among others may enter large-cap category, says Nuvama

Canada not looking to escalate situation with India, will continue to "engage responsibly": Justin Trudeau

Google Pixel 8 Launch 2023: Check date, time, expected new features, and price

Maruti Suzuki production dips 1% in September

At the closing price of Rs 241.20 apiece on BSE on Wednesday, the sale of 3 per cent stake in Coal India would be worth around Rs 4,400 crore.

"The seller proposes to sell up to 9,24,40,924 equity shares of face value of Rs 10 each of the company (representing 1.50 per cent of the total paid-up equity share capital of the company) (base offer size), on June 1st and 2nd for retail investors and non retail investors," the filing said.

There will be an option to additionally sell 9,24,40,924 (1.50 per cent) equity shares of the company, it added.