Coal India to debut on boures on November 4
01 Nov 2010
Equity shares of much-awaited Coal India (CIL) initial public offering (IPO) will be listing on exchanges on November 4, 2010.
The issue price of India's largest IPO has been fixed at Rs245 a share, at higher end of price band of Rs 225-245. The company has raised more than Rs15,100 crore through IPO by issuing 63.16 crore equity shares.
It was subscribed 15.28 times, including major contribution from qualified institutional buyers (QIBs) followed by non-institutional investors (NIIs) and retail investors. The reserved portion of QIBs was subscribed 24.7 times, non-institutional investors 25.4 times and retail 2.31 times while employees' portion was subscribed just 0.1 time.
All issue proceeds received by the selling shareholder (government of India). The government's stake reduced to 89.99 per cent post the issue. The offer constituted 10 per cent of the post offer paid-up equity share capital of company.
