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.
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