Under PSU disinvestment, the government has proposed to sell up to a 3% stake in Coal India.

Coal India OFS 2023:

About a Three percent stake in Coal India will be sold through Offer for Sale (OFS) from June 1, 2023.

Coal India informed the stock market that OFS will continue on June 1 and 2 for retail and non-retail investors.

According to Coal India, the company will sell 9.24 crore shares ie a 1.5 percent stake of the company under OFS.

In addition, Coal India has an option to sell another 1.5 per cent stake, if any additional bids are received.

Coal India has offered to sell 9,24,40,924 equity shares with a face value of Rs 10 each. The sale will be on June 1 and 2.

On June 1, non-retail investors can bid, while on June 2, retail investors will get a chance to bid.

The company's three percent stake would be worth around Rs 4,400 crore, based on the company's immediate valuation.

Mkt cap: 1.42LCr P/E ratio: 5.04 52-week high: 263.40 52-week low: 174.75

Coal India Ltd Stock Details:

However, despite the OFS announcement, Coal India shares were trading at Rs 230.50, down 4.44% on previous trading session.

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