Secondary Issues
Government of India to divest up to 2% stake in Coal India via offer for sale
The Government of India is to divest up to a 2% stake in the state-owned miner Coal India through an offer for sale (OFS). The transaction, which includes a base offer of 1% and an oversubscription option for an additional 1%, will take place on May 27 and May 29. The floor price for the share sale has been set at Rs 412 per equity share.Coal India reported a 12% year-on-year increase in profit after tax to INR 10,908 crore for the March quarter, with revenue from operations rising 6% to INR 46,490 crore.
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