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Coal India IPO may offer retail discount

Coal India IPO may offer retail discount
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First Published: Tue, Oct 12 2010. 11 29 AM IST
Updated: Tue, Oct 12 2010. 11 29 AM IST
Reuters
Mumbai: State-owned Coal India is likely to offer a 5% discount on the final IPO price to retail investors and employees of the world’s largest coal miner, three sources with direct knowledge of the situation said on Tuesday.
The government is selling roughly 631.6 million Coal India shares, or 10% of the company, making it the country’s largest initial public offering. The sale opens on Monday and closes on 21 October.
Earlier, the chairman of Coal India said a newspaper report the government panel was likely to recommend a price band of Rs 220-240 a share for its IPO was incorrect.
A decision on the price band for the IPO will be taken by a group of ministers later on Tuesday.
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First Published: Tue, Oct 12 2010. 11 29 AM IST
More Topics: Coal India | CIL | IPO | Discount | Retail investor |