Government to Conduct Coal India OFS: 92.44 Lakh Shares to be Sold at Rs 226.10 per Share on June 21

19 Jun 2023 , 12:30 PM

The Government of India has announced plans to sell 92.44 lakh shares, representing a 0.15% equity stake, in the Bombay Stock Exchange (BSE) to eligible employees through an offer for sale (OFS).

The employee OFS will be open for subscription from June 21 to June 23, 2023. In an exchange filing, Coal India stated, ‘Government of India, on May 31, 2023, the Seller is proposing to offer up to 92,44,092 equity shares (representing 0.15% of the total paid-up equity share capital of the Company) of the face value of Rs 10 each to the eligible employees of the Company at a price of Rs 226.10 per equity share.’

At the time of writing, the shares of Coal India were trading at Rs 227.20 apiece on the BSE, showing a 0.53% decline.

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