Government to sell up to 2% stake in Coal India via offer for sale May 27-29

Shares of Coal India fell over 6% on Wednesday after the state-run miner said that the government will sell up to 2% stake in the company through an offer for sale at a floor price of Rs 412 per share, implying a 10% discount from the previous closing price of Rs 458.15 apiece on NSE.Coal India announced on Tuesday that it aims to sell 6.16 crore equity shares, representing 1% of Coal India’s total paid-up equity capital, as the base offer size. The government also retains an oversubscription option to sell an additional 6.16 crore shares, taking the total potential offer size to 12.32 crore shares or 2% equity. At the floor price, this would be worth more than Rs 5,000 crore.The offer for sale will open for non-retail investors on May 27, while retail investors, eligible employees and non-retail investors carrying forward unallotted bids can participate on May 29. It is important to note that the Indian stock market will remain closed on May 28 on account of Bakrid.The government owned more than 63% stake in the PSU company, as on March 31, 2026. Coal India in its exchange filing further said that the share sale by its promoter will be conducted through a separate window mechanism on BSE and the National Stock Exchange in accordance with the Securities and Exchange Board of India’s OFS guidelines.Additionally, 16 lakh Coal India shares changed hands in the block deal on Wednesday morning, according to ET Now.Also read: Govt to offload up to 2% stake in Coal India via OFS on May 27-29Coal India share priceCoal India shares sharply declined more than 6% to trade at Rs 428.40 apiece on NSE in the early trading hours of Wednesday. The stock has declined around 5% in one week and more than 3% in one month. Overall, the share price of the miner have gained more than 9% so far in 2026.In the longer term, Coal India shares gained over 9% in one year, 81% in three years and 202% in five years. The company has a market capitalisation of nearly Rs 2.7 lakh crore.Coal India reported a steady March quarter performance, with consolidated profit after tax rising 12% YoY to Rs 10,908 crore, while revenue from operations increased 6% to Rs 46,490 crore, supported by improved realizations and higher other income.Further, Coal India’s board also declared a final dividend for FY26 at Rs 5.25 per share. Payment of the final dividend for FY26 will be made subject to approval of shareholders in the upcoming AGM.Also read: Coal India dismisses shortage fears; says 168 MT buffer available to meet rising demand(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

The government will sell up to 2 per cent stake in Coal India through an offer for sale at a floor price of Rs 412 apiece beginning Wednesday. The sale of up to 2 per cent stake or about 12.32 crore shares at Rs 412 apiece would fetch about Rs 5,000 crore to the exchequer. The OFS (offer for sale) will open for non-retail investors on May 27, and for retail investors on May 29. "Government of India announces OFS in Coal India Limited with a base offer of 1 per cent of its equity and an additional 1 per cent Green Shoe Option in case of oversubscription. Floor price fixed at Rs 412 per share," Department of Investment and Public Asset Management (DIPAM) Secretary Arunish Chawla said in a post on X. Shares of Coal India closed at Rs 458.25 on the BSE on Tuesday, up 0.25 per cent from the previous close. The floor price of Rs 412/share is at a 10 per cent discount over the current market price. With strong operational and financial performance, consistent returns and attractive ...