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The govt on Wednesday proposed to market up to 3 for every cent stake in Coal India Ltd through the offer you for sale route from June 1.The Supply for Sale (OFS) will be open for retail and non-retail investors on June 1 and 2.The proposal is to offload 9.24 crore shares amounting to a stake of 1.5 for each cent in the coal producer.
Moreover, there will be a inexperienced shoe choice for marketing an equivalent amount of stake in situation of above subscription, in accordance to a regulatory filing. At the closing selling price of Rs 241.20 apiece on BSE on Wednesday, the sale of 3 for every cent stake in Coal India would be worthy of around Rs 4,400 crore.
“The seller proposes to promote up to 9,24,40,924 fairness shares of confront price of Rs 10 each individual of the enterprise (symbolizing 1.50 for every cent of the total paid out-up equity share capital of the enterprise) (foundation give measurement), on June 1st and 2nd for retail traders and non retail traders,” the submitting said.There will be an possibility to moreover provide 9,24,40,924 (1.50 for each cent) equity shares of the corporation, it additional.
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