Coal India Share Price tanked over 6 per cent in early trade on Wednesday after the Government announced an Offer for Sale (OFS) to divest up to 2 per cent stake in public sector miner through a base offer and green shoe option. The floor price is fixed at Rs 412 per share, representing a 10 per cent discount to Coal India's last closing price. The total issue size is estimated at approximately Rs 5,000 crore at the floor price.

Following the announcement, the state-owned miner's shares opened with a huge gap-down at Rs 429 as compared to the last day's closing of Rs 458.15 on NSE. It escalated the losing momentum further to hit an intraday low at Rs 428.40--down 6.5 per cent from last closing--before picking up in recovery mode.

Last seen, the Coal India shares were trading at Rs 448.15, down Rs 10 or 2.18 per cent.

Floor Price At 10% Discount

The floor price of Rs 412 represents a discount of around 10 per cent to Coal India's previous close price of Rs 458.15 on the NSE. Furthermore, as per OFS guidelines, up to 25,000 equity shares can be issued to eligible employees of the company.

OFS Date: The OFS will open for non-retail investors on May 27 and for retail investors on May 29, 2026.

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"Government of India announces OFS in Coal India Limited with a base offer of 1% of its equity and an additional 1% Green Shoe Option in case of oversubscription. Floor price fixed at Rs 412 per share. OFS opens for non-retail investors on 27 May 2026 and for retail investors on 29 May 2026. With strong operational and financial performance, consistent returns and attractive dividends, CIL continues to offer a compelling long-term investment opportunity," said Secretary, Department of Investment and Public Asset Management (DIPAM), posted on X.

OFS Structure

Under the offer structure, the President of India, through the Ministry of Coal, will sell 61,627,283 equity shares, or 1 per cent of the outstanding paid-up equity, as the base offer size. An equal amount has been offered as an oversubscription option, taking the total potential offer to 123,254,566 shares, or 2 per cent of the company's equity. The base offer at the floor price is Rs 2,539 crore, and the total offer is Rs 5,078 crore.

Disclaimer: This story is for informational purposes. It should not be considered as investment advice.