Floor Price Of Coal India Shares Today

The government has decided to offer coal india limited cil shares at a floor price of rs 358 a piece today for offloading up to 10 per cent stake in the staterun behemoth which would fetch an.

Floor price of coal india shares today.

Coal india has net cash of rs 23 000 crore. The government currently holds 78 32 percent stake in coal india. It will allow coal india to conform to the minimum public holding norm of 25 and help the government raise a minimum of rs 4421 5 crore at the base price. We expect coal based generation to increase at cagr of 6 5 over the same period driving the need for coal in india motilal oswal said in a note.

State owned coal india s 54 mining projects are running behind schedule mainly on account of delays in obtaining green nod and issues related to. Coal india plans to auction 60 of its inventory by may to liquidate stocks that touched a record 75 million tonnes in march. The floor price is. The company has decided to reduce floor price for bidding from 20 30 above notified price to the notified prices and bulk of the offer would be for auctions allowing consumers to lift booked quantities over several months.

The centre has decided to sell 3 in coal india through an offer for sale with a green shoe option to sell another 6 to financial institutions and retail investors at a floor price of rs 266 per share. For the year ending march 2020 coal india has declared an equity dividend of 120 00 amounting to rs 12 per share. The promoters have an option to sell a further 10 41 stake. It had then mopped up about rs 23 000 crore.

The government will sell up to 3 stake 18 62 crore shares in coal india on october 31 and november 1 via offer for sale ofs route at a floor price of rs 266 per per share. The government had last sold 10 percent stake in cil through an ofs in january 2015. The government which owns a 90 percent stake in coal india will raise up to 3 7 billion from the sale at the floor price. The floor price of rs 266 a share is at a discount of nearly 4 percent or rs 11 a share over the closing price of cil scrip on the nse.

The promoters pfaudler inc millars machinery urmi patel propose to sell 25 7 lakh shares which represent 17 6 of total issued and paid up capital. The floor price or minimum selling price is nearly 5 per cent below today s closing price of rs 375 15 a share.