Disinvestment
of Coal India Ltd (CIL) through OFS was successfully completed today. An amount
of Rs 22557.63 crore was realized through the CIL disinvestment process. This
is the largest ever disinvestment among Central Public Sector Enterprises (CPSEs)
which involved disinvestment of 5% of the paid-up
equity of Government of India (with an option to retain additional 5% in case
of oversubscription) in CIL. The total offer size (5%+5%) was totaling 63.16
crores shares. However the total bids received were for a quantity of 67.5
crores across all categories. The oversubscription to the total quantity was
around 5%. The category wise break-up of bidded quantities is as under:
|
Client Category
|
Bid quantity
|
Allotted Qty
|
Allotted Amount (Rs crores)
|
|
Retail
|
55,647,668
|
54,149,737
|
1852.55
|
|
Non Institutional investors
|
7,153,275
|
7,143,047
|
256.20
|
|
Insurance (Public &
Private)
|
349,747,288
|
317,088,756
|
11360.13
|
|
Mutual Funds
|
16,824,206
|
16,811,966
|
603.11
|
|
Others/FIIs & Banks
(public & private)
|
245,869,462
|
236,442,934
|
8485.64
|
|
Total
|
675,241,899
|
631,636,440
|
22557.63
|
The major highlights of the issue are as
under:
(i)
The CIL disinvestment has attracted the largest
FII participation in a Government OFS.
(ii)
Out of the total shares offered for sale, 20%
were allocated for Retail Investors i.e. those investors who placed bids for
shares of total value of not more than Rs. 2.00 lakh. Rs 1852.55 have been
received from the retail investors, the largest in any OFS so far.
(iii) Government
of India offered 5% discount to Retail investors on price
bid to attract more Retail Investors.
(iv)
Government fixed Rs. 358/- floor price for the
auction of shares which was 4.5% less than the closing price on 29.2.2015.
(v)
With this divestment, the Government of India’s
share in CIL would come down to 79.65%.
(vi)
The total
receipts accruing to the
Government from the CIL disinvestment are Rs 22557.63/-
******
DSM