Govt Raises Rs 22,573 Crores Through Divestment in Coal India

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The government has successfully completed the disinvestment of Coal India Ltd (CIL) through an OFS. An amount of Rs 22557.63 crore was realized through the CIL disinvestment process. This is the largest ever disinvestment among Central Public Sector Enterprises (CPSEs) which involved disinvestment of 5 per cent of the paid-up equity of Government of India (with an option to retain additional 5% in case of oversubscription) in CIL. The total offer size (5 per cent+5 per cent) as totaling 63.16 crores shares.

Govt Raises Rs 22,573 Crores Through Divestment in Coal India
However the total bids received were for a quantity of 67.5 crores across all categories. The oversubscription to the total quantity was around 5 per cent. 

The CIL disinvestment has attracted the largest FII participation in a Government OFS.  Out of the total shares offered for sale, 20 per cent were allocated for Retail Investors i.e. those investors who placed bids for shares of total value of not more than Rs. 2.00 lakh. Rs 1852.55 have been received from the retail investors, the largest in any OFS so far. 

Read more about: coal india
Story first published: Saturday, January 31, 2015, 7:52 [IST]
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