Coal India Share: Coal India’s stock tumbled over 6% on Wednesday after the company announced that the Government of India will sell up to a 2% stake through an Offer for Sale (OFS) at a floor price of Rs 412 per share. This represents approximately a 10% discount to the previous day’s closing price of Rs 458.15 on the NSE.
The government is raising around Rs 5,000 crore via the OFS, which includes a base issue of 1% stake with an option to sell an additional 1%. Both institutional and retail investors can participate in the block deal.
The sale of up to 2 per cent stake or about 12.32 crore shares at Rs 412 apiece would fetch about Rs 5,000 crore to the exchequer.
The OFS (offer for sale) opened for non-retail investors on May 27, and for retail investors on May 29.
The floor price of Rs 412/share is at a 10 per cent discount over the current market price.
With strong operational and financial performance, consistent returns and attractive dividends, CIL continues to offer a compelling long-term investment opportunity, Chawla added.
The FY27 Budget has estimated a mop up of Rs 80,000 crore through disinvestment and asset monetisation, more than double the Rs 33,837 crore given in the Revised Estimates for FY26.
