Coal India Share Sale

The government will offload up to 3 per cent stake in Coal India Ltd through the offer for sale route starting on Thursday and the disinvestment will fetch at least Rs 4,158 crore for the exchequer.

The government on Wednesday proposed to sell up to three per cent stake in Coal India Ltd through the offer for sale route from June 1. The Offer for Sale (OFS) will be open for retail and non-retail investors on June 1 and 2.

An increase in spot auction sales, which offer higher margins than its mainstay long-term contracts, will help Coal India to build off its record profits from this year and maintain its rising share price.

Government had reserved 10 per cent of the total shares on sale for CIL employees and had offered a discount of 5 per cent to workers

Zomato IPO listing: At 10:05 am, Zomato shares were trading at the day's high of Rs 134.70, up 77.63 per cent on the BSE and Rs 135.60, up 77.57 per cent on the NSE

If successful, Paytm's initial share sale would surpass Coal India Ltd.'s offering, which raised more than Rs 15,000 crore in 2010 in the country's largest IPO so far.

List of Stocks in Focus Today: Auto companies, including Tata Motors, Hero MotoCorp and Eicher Motors, are set to hog the limelight on the bourses after reporting stellar sales performance for the month of November

A first-time share sale of that size would be the biggest India has ever seen and could create the nation's most-valuable company by market value. The nation's largest transaction to date was Coal India Ltd.'s $3.4 billion float a decade ago, data compiled by Bloomberg show.

Shares in Coal India closed 4 per cent weaker at 275.85 rupees on the National Stock Exchange on Tuesday.

ICICI Prudential Life Insurance, India's largest private life insurer, hit the capital market today to raise around Rs 6,050 crore. This is the first initial public offer (IPO) by any life insurance company in India. It is also the biggest IPO since state-run Coal India raised over Rs 15,000 crore in 2010.

L&T Infotech's Rs 1,243-crore IPO, which was oversubscribed nearly 12 times, attracted more than one million applications, the highest for any share sale offer in at least five years.

Sale of a 10 per cent stake in Coal India is likely to be deferred to next fiscal year as the government wants to wait for stability in the equity markets for a better valuation.

Plagued by poor investor appetite for state-owned assets, the government was likely to scale back its revenue targets from planned divestments, following already huge shortfalls from planned asset sales in recent years.

The government's disinvestment kitty has almost doubled this year with over Rs 35,000 crore garnered through stake sales in PSUs, but not without the help of its all-time saviour Life Insurance Corporation (LIC), while a strong pipeline is ready for 2016 with blue chips like NTPC, Coal India and ONGC (Oil & Natural Gas Corporation).

Opposing an immediate stake sale in Coal India Ltd, foreign investors have told the Finance Ministry that further disinvestment in the coal miner should be put off as the current market valuation is low.

The government will offload up to 3 per cent stake in Coal India Ltd through the offer for sale route starting on Thursday and the disinvestment will fetch at least Rs 4,158 crore for the exchequer.

The government on Wednesday proposed to sell up to three per cent stake in Coal India Ltd through the offer for sale route from June 1. The Offer for Sale (OFS) will be open for retail and non-retail investors on June 1 and 2.

An increase in spot auction sales, which offer higher margins than its mainstay long-term contracts, will help Coal India to build off its record profits from this year and maintain its rising share price.

Government had reserved 10 per cent of the total shares on sale for CIL employees and had offered a discount of 5 per cent to workers

Zomato IPO listing: At 10:05 am, Zomato shares were trading at the day's high of Rs 134.70, up 77.63 per cent on the BSE and Rs 135.60, up 77.57 per cent on the NSE

If successful, Paytm's initial share sale would surpass Coal India Ltd.'s offering, which raised more than Rs 15,000 crore in 2010 in the country's largest IPO so far.

List of Stocks in Focus Today: Auto companies, including Tata Motors, Hero MotoCorp and Eicher Motors, are set to hog the limelight on the bourses after reporting stellar sales performance for the month of November

A first-time share sale of that size would be the biggest India has ever seen and could create the nation's most-valuable company by market value. The nation's largest transaction to date was Coal India Ltd.'s $3.4 billion float a decade ago, data compiled by Bloomberg show.

Shares in Coal India closed 4 per cent weaker at 275.85 rupees on the National Stock Exchange on Tuesday.

ICICI Prudential Life Insurance, India's largest private life insurer, hit the capital market today to raise around Rs 6,050 crore. This is the first initial public offer (IPO) by any life insurance company in India. It is also the biggest IPO since state-run Coal India raised over Rs 15,000 crore in 2010.

L&T Infotech's Rs 1,243-crore IPO, which was oversubscribed nearly 12 times, attracted more than one million applications, the highest for any share sale offer in at least five years.

Sale of a 10 per cent stake in Coal India is likely to be deferred to next fiscal year as the government wants to wait for stability in the equity markets for a better valuation.

Plagued by poor investor appetite for state-owned assets, the government was likely to scale back its revenue targets from planned divestments, following already huge shortfalls from planned asset sales in recent years.

The government's disinvestment kitty has almost doubled this year with over Rs 35,000 crore garnered through stake sales in PSUs, but not without the help of its all-time saviour Life Insurance Corporation (LIC), while a strong pipeline is ready for 2016 with blue chips like NTPC, Coal India and ONGC (Oil & Natural Gas Corporation).

Opposing an immediate stake sale in Coal India Ltd, foreign investors have told the Finance Ministry that further disinvestment in the coal miner should be put off as the current market valuation is low.