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Government to sell up to 3% stake in Coal India

01 Jun 2023 Evaluate

The government is all set to sell up to 3 per cent stake in Coal India through the offer for sale route from June 1, 2023. The Offer for Sale (OFS) will be open for retail and non-retail investors on June 1 and 2, 2023. 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. 

Coal India is the world’s largest coal mining company. It also produces non-coking coal and coking coal of various grades for diverse applications.

Peers
Company Name CMP
Coal India 406.30
NMDC 68.40
Ashapura Minechem 416.80
Sandur Manganese 167.70
GMDC 419.25
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