CIL issue price fixed at `245/share

Oct 26, 2010 |

Correspondent

The government on Monday fixed Coal India’s mega IPO issue price at `245 per share, the upper end of initial offer price range. The government would fetch over `15,000 crore by issuing 63.16 crore shares of Coal India at a price of `245 per share. It will offer a discount of five per cent to retail investors. “The issue price has been fixed at `245 per share. The government will raise over `15,000 crore,” the Union coal minster, Mr Sriprakash Jaiswal, said after a meeting of the EGoM, headed by the finance minister, Mr Pranab Mukherjee. “It was a grand success. It happened for the first time in the history of India”, Mr Jaiswal added.

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