68175 Investors following Coal India. Share this News with them.
0
Like this story, share it with millions of investors on M3
Coal India IPO: QIB portion fully subscribed
The initial public offer (IPO) of India's largest coal producing company Coal India (CIL) has been subscribed 0.74 times (74%) so far on the back of good response from qualified institutional investors (QIBs).
The initial public offer (IPO) of India's largest coal producing company Coal India (CIL) has been subscribed 0.74 times (74%) so far on the back of good response from qualified institutional investors (QIBs), as per NSE website.
The issue has been received bids for 46.92 crore equity shares as against issue size of 63.16 crore shares. The support was led by QIBs; their reserved portion subscribed 1.42 times.
The government expects to raise over Rs 15,000 crore through the IPO, which will be largest ever amount raised by an Indian company via offering. The company will not receive any proceeds from the offer and all proceeds will go to the selling shareholder (GoI), whose stake will be 89.99% post the issue.
The offer shall constitute 10% of the post offer paid-up equity share capital of company. The issue will close on October 20 for QIBs and October 21 for non-QIBs.
Book running lead mangers to the issue are Citigroup Global Markets India Private Limited, Deutsche Equities (India) Private Limited, DSP Merrill Lynch Limited, ENAM Securities Private Limited, Kotak Mahindra Capital Company Limited and Morgan Stanley India Company Private Limited.
