Shares of the PSU tanked 3.9 per cent to Rs 360.50 at the Bombay Stock Exchange and 3.82 per cent to Rs 360.60 on the National Stock Exchange. (Photo: Reuters) 
Special 
Shares of the PSU tanked 3.9 per cent to Rs 360.50 at the Bombay Stock Exchange and 3.82 per cent to Rs 360.60 on the National Stock Exchange. (Photo: Reuters) Coal India (CIL) shares fell almost 4 per cent in the wake of the floor, or the minimum offer, price for the company's share sale being set at a discount.
The government's 10 per cent stake sale in the blue-chip, to raise an estimated Rs 22,600 crore, began on Friday. The floor price for CIL's share sale was set at Rs 358 apiece - 4.57 per cent less than the stock's closing price on Thursday.
Shares of the PSU tanked 3.81 per cent to Rs 360.85 at the Bombay Stock Exchange and 3.68 per cent to Rs 361.15 on the National Stock Exchange.
The government is selling 31.58 crore shares, or 5 per cent stake, in CIL through a public offer, with an option to sell another 5 per cent.
The total issue of 31.58 crore shares got bids for over 45.02 lakh shares by 10 am, according to data with the bourses. The retail category of 12.63 crore shares got bids for over 7.20 lakh shares (0.57 per cent). The general category of over 50.53 crore shares were subscribed nearly 0.75 per cent.
Copyright©2025 Living Media India Limited. For reprint rights: Syndications Today
