Coal India IPO institution portion covered 22 times

Coal India IPO institution portion covered 22 times

Mumbai: The institutional portion of state-run Coal India’s initial public offering, expected to raise as much as $3.5 billion, was covered 22 times the shares on offer as of 4:00pm on Wednesday, stock exchange data showed.

The retail portion in the IPO, the largest in India’s corporate history, had been covered 0.8 times, the data showed.

Coal India is selling more than 631.6 million shares in its IPO, which closes on Wednesday for institutions and on Thursday for retail investors.

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