India to Sell Two Percent Stake in Coal India via OFS
The Indian government plans to divest up to a 2% stake in Coal India at a floor price of 412 rupees per share. This move is part of a broader 800 billion rupee asset monetisation target for the 2027 fiscal year. The sale follows a similar divestment in the Central Bank of India earlier this week.
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India will sell up to a 2% stake in Coal India through an offer for sale. The transaction includes a base offer of 1% with an option to offload an additional 1% equity stake. This divestment supports the government's target of 800 billion rupees in asset monetization for the fiscal year 2027.
