Coal India’s 10 percent megasale earns government Rs.22,745 crore
The 10 percent stake sale in state-owned coal behemoth Coal India Ltd (CIL) fetched the government Rs.22,745 crore as a total issue of 63.16 crore shares went for the auction Friday.
Featuring as the biggest disinvestment exercise as well as the biggest sale ever from any private or public holding, the average bid price was higher by Rs.2.11 at Rs. 360.11 against the floor price of Rs. 358 declared Thursday by the government.
The government had expected to get at least Rs.22,600 crore at the floor price of Rs.358 per share declared Thursday.