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Govt to sell up to 9pc stake in Coal India, Option to sell add 6pc stake

State owned public enterprise, Coal India Limited has announced that the government will be selling up to 9 percent of its stake in the prized public sector company as part of its ambitious disinvestment plan. The company announced a 2-day-window for the sale of stakes via OFS route or offer for sale and green shoe option.

The shares will be sold at a floor price of 266 rupees apiece, and the sale will be conducted on Wednesday and Thursday, Coal India Limited said in a filing.

Followed by the fall in Tuesday’s trade, shares of Coal India continue to fall on Wednesday quoting share price at Rs 266 apiece, down 3.57% on the NSE. Coal India would be the first Public service undertaking OFS in the current fiscal.



This post first appeared on CallPut Option Trading Strategies| Bank Nifty Tips, please read the originial post: here

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Govt to sell up to 9pc stake in Coal India, Option to sell add 6pc stake

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