Coal India share sale price set at Rs 358 per share

摘要

The government has fixed a floor price of Rs 358 a share for its up to 10% stake sale in Coal India. This is a 4.6% discount to the closing price of Rs 375.15 for the company's shares on the Bombay Stock Exchange on Thursday last. The government is selling 5% of company's shares through an offer for sale with an option to sell another 5% for a maximum 10% divestment. The government will sell 31.58 crore shares, or five per cent stake, in a public offer, with an option to sell another 5 per cent. The disinvestment is expected to help government to meet half of its Rs 43,425 crore revenue target from stake sale in public sector companies.