Coal India OFS: Retail Investors Gear Up as Offer Opens May 28; Floor Price Set at ₹412
मुख्य बातें
- •Coal India’s OFS retail portion opens on May 28, 2024; closes May 29 or earlier if quota filled
- •Floor price set at ₹412 per share, below the last traded price of ₹444.85 on BSE
- •OFS began for institutional investors on May 27 as part of government divestment plan
- •Retail investors can bid through stockbrokers; shares offered by government stake sale
Retail investors in India are preparing to participate in Coal India Limited’s Offer for Sale (OFS), which will open for the retail segment on Tuesday, May 28, 2024. The OFS process began for non-retail (institutional) investors on May 27, marking a significant step in the government’s divestment strategy. The floor price for the shares has been fixed at ₹412 per share, based on the average of the closing prices on May 24, 2024, across major stock exchanges.
This price is notably lower than the last traded price of ₹444.85 per share on the Bombay Stock Exchange (BSE) as of the previous trading session. The discount is intended to make the offering attractive to retail participants, who may be more sensitive to price movements. Analysts suggest that the price gap could encourage wider participation from small investors, especially in a market where Coal India’s shares have seen steady demand due to its monopoly in coal production and consistent dividend payouts.
