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The government will sell up to 10% stake in Coal India, the country’s eight-biggest firm in terms of market value on Friday. The share sale is being done through the offer for sale (OFS) route. The core issue is of 15.8 million shares, or 5% stake, with a so-called green-shoe option of selling another 15.8 million shares or 5%. The total issue size is likely to be around Rs 22,000 crore, assuming the government offers further discount to the current market price of Rs 370 per share. The share-sale, if fully subscribed, will be the biggest-ever equity offering in the Indian market, topping the Rs 16,700 crore-worth of rights issue by State Bank of India in 2008 and Rs 15,500 crore-worth initial public offering (IPO) of Coal India itself in 2010.
Here is a guide retail investors can use to invest in this mega offering:
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