Coal India IPO oversubscribed 1.57 times

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Mumbai: State-run Coal India’s $3.5-billion initial public offering (IPO), the biggest in the history of corporate India, was subscribed 1.57 times on October 19.

The issue at a price band of Rs.225-Rs.245 a share, received 991,179,700 bids against 631,636,440 shares on offer for sale till 4:00 p.m., according to data made available by the stock exchanges.

At the higher end of the band, the IPO size will be to the tune of about Rs.15,400 crore, making it the largest IPO in the history of Indian capital markets.

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