The Indian government intends to sell up to a 3% stake in Coal India Ltd (CIL) via the offer for sale (OFS) route, aiming to raise a minimum of ₹4,158 crore in disinvestment funds.
This will mark the first stake sale in a public sector undertaking by the government in the current financial year.
According to a filing made by the PSU behemoth with the stock exchange, the government will sell 9.24 crore shares, representing a stake of 1.5% in Coal India, at a floor price of ₹225 per share. Furthermore, in the event of oversubscription, there will be a green shoe option to sell an equal stake.
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