Mumbai, May 26 Government will divest up to a 2 per cent stake in public sector mining major Coal India Limited (CIL), A Maharatna PSU under Ministry of Coal through an Offer for Sale (OFS) scheduled from May 27 to May 29, according to a stock exchange filing by the company on Tuesday.
The government has fixed the floor price for the OFS at Rs 412 per equity share, reflecting a nearly 10 per cent discount to Coal India’s closing price of Rs 455.90 on the National Stock Exchange (NSE) on Tuesday.
Under the base offer, the Centre plans to sell 6.16 crore equity shares, representing 1 per cent of Coal India’s paid-up equity capital. It also retains an oversubscription option to offload an additional 6.16 crore shares, taking the total potential divestment to 12.32 crore shares or 2 per cent of the company’s equity.
The OFS will open for non-retail investors on May 27. Retail investors, eligible employees, and non-retail investors carrying forward unallotted bids can participate on May 29. Trading will remain closed on May 28 due to the Eid holiday.
The stake sale will be conducted through a separate window mechanism on both BSE and NSE, in line with the Securities and Exchange Board of India’s OFS guidelines.
Coal India may also offer up to 25,000 equity shares to eligible employees, subject to approval from the competent authority. Employees can bid for shares worth up to Rs 5 lakh.
The OFS announcement comes after Coal India reported a 12 per cent year-on-year rise in net profit to Rs 10,908 crore for the January-March quarter of FY26. Revenue from operations increased 6 per cent to Rs 46,490 crore during the quarter.
The company’s board has also declared a final dividend of Rs 5.25 per share for FY26
