Overview
- The Centre launched an Offer For Sale to sell a base 1% stake in Coal India with a 1% greenshoe option, offering up to 12.32 crore shares at a floor price of ₹412 per share.
- Non-retail investors could bid on May 27 and retail and employee windows are scheduled for May 29 under SEBI’s separate-window OFS rules.
- Coal India’s shares fell sharply on the opening of the OFS because the floor price is roughly 10% below recent market levels and adds visible supply to the market.
- Institutional demand was strong on day one with large bids reported and Coal India said it holds a 168 million tonne coal buffer to reassure suppliers and electricity users.
- If the full 2% is sold at ₹412 the exercise would raise about ₹5,000 crore while the government would remain the majority promoter with roughly a 61% holding, and the sale feeds into the higher FY27 disinvestment target.