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TMI BlogDisinvestment of Coal India Ltd (CIL) Through OFS Successfully Completed; ₹ 22557.63 Crore Accrued to the Government from this Disinvestment Process; This is the Largest Ever Disinvestment Among Central Public Sector Enterprises (CPSES)X X X X Extracts X X X X X X X X Extracts X X X X ..... Disinvestment of Coal India Ltd (CIL) Through OFS Successfully Completed; ₹ 22557.63 Crore Accrued to the Government from this Disinvestment Process; This is the Largest Ever Disinvestment Among Central Public Sector Enterprises (CPSES) - News and Press Release Dated:- 31-1-2015 - News - Disinvestment of Coal India Ltd (CIL) through OFS was successfully completed today. An amount of ͅ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7; 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 O ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... FS. (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 ₹ 2.00 lakh. ₹ 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 Investo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs. (iv) Government fixed ₹ 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 ₹ 22557.63/- - News - Press release - PIB Tax Management India - taxma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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