Shares of Coal India are likely to remain in focus after nearly 16 lakh shares changed hands in a block deal on Wednesday, amid continued market reaction to the government’s recently announced Offer for Sale (OFS) in the PSU mining giant.
According to exchange data, around 16 lakh shares of Coal India were traded in a block deal during the session. The identities of the buyers and sellers were not immediately known.
The block transaction comes shortly after the Government of India announced an OFS in Coal India with a potential total size of around Rs 5,000 crore.
Under the OFS, the President of India acting through the Ministry of Coal plans to sell up to 6.16 crore equity shares, representing 1% of Coal India’s paid-up equity capital. The government also retains an oversubscription option to sell an additional 6.16 crore shares, taking the total possible divestment to nearly 2% of the company’s equity base.
The floor price for the OFS has been fixed at Rs 412 per share, which was at a discount of nearly 10.1% compared to Coal India’s previous closing price of Rs 458.15 on the NSE before the announcement.
Coal India shares witnessed selling pressure following the OFS announcement as investors reacted to the discounted offer price and increased supply of shares in the market.
The stock remains among the most actively traded PSU counters, with investors closely monitoring subscription demand, institutional participation, and further government divestment activity.
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