New Delhi, May 27: The Centre will divest up to a 2 per cent stake in Coal India Limited (CIL) through an offer for sale (OFS) between May 27 and May 29, the state-run mining company informed stock exchanges on Tuesday.
The government has fixed the floor price at Rs 412 per equity share, representing a discount of nearly 10 per cent to Coal India’s Tuesday closing price of Rs 455.90 on the NSE.
Under the OFS, the government plans to sell 6.16 crore equity shares, equivalent to 1 per cent of Coal India’s paid-up equity capital, as the base offer.
The Centre has also retained an oversubscription option to offload an additional 6.16 crore shares, potentially taking the total offer size to 12.32 crore shares or 2 per cent of the company’s equity.
The share sale will open for non-retail investors on May 27, while retail investors, eligible employees and non-retail investors carrying forward unallotted bids will be able to participate on May 29.
The gap between the two bidding days comes as stock markets will remain closed on May 28 for the Eid holiday.
The OFS will be conducted through a separate window mechanism on both the BSE and NSE in accordance with Securities and Exchange Board of India (SEBI) guidelines.
Coal India also said up to 25,000 equity shares may be reserved for eligible employees, subject to regulatory approval, with employees allowed to bid for shares worth up to Rs 5 lakh.
The divestment announcement comes after Coal India reported a 12 per cent rise in net profit to Rs 10,908 crore for the January-March quarter of FY26, while revenue from operations increased 6 per cent to Rs 46,490 crore.
The company’s board has also declared a final dividend of Rs 5.25 per share for FY26.
