Coal India Files DRHP For IPO With SEBI (18-Aug-2010)
Navratna PSU, Coal India has filed draft red herring prospectus (DRHP) for 631,636,440 equity shares Initial Public Offer (IPO) with the Securities and Exchange Board of India (SEBI) on Monday, as the government is divesting 10% of its stake in the company. The offer comprises a net offer to public of 568,472,796 equity shares and a reservation of 63,163,644 equity shares for subscription by eligible employees. The offer shall constitute 10.00% of the post offer paid-up equity share capital of the Company.
The book running lead manger to the issue are Citigroup Global Markets, Deutsche Equities, DSP Merrill Lynch, Enam Securities, Kotak Mahindra Capital Company, Morgan Stanley India Company. Link Intime India is the registrar to the offer.
The objects of the Offer is to carry out the divestment of 631,636,440 Equity Shares by the Selling Shareholders.
The price band, retail discount, employee discount and the minimum bid lot will be decided by the selling shareholder and the company in consultation with the book running lead managers and will be advertised at least two working days prior to the offer opening date.
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