Coal India Ipo
October 18, 2010 by Post Team
Coal India Ipo, Coal India IPO price reached 13.9 billion rupees in the first hour of bids at the upper end as Coal India Ltd., the world’s largest producer of fuel, was 13.9 billion rupees (314 million U.S. dollars) of tenders at the upper end of price range in the first hour of higher sales of initial shares in the nation. IPO Coal India Ltd (IPO) to establish Indian stock today October 18, 2010. As one of the largest IPOs, the company has tried to increase the R 15, 000 crore in the market. The Coal India Ltd (CIL IPO) price of the stock is in the range of 225-245 rupees.
Market experts believe that one must subscribe to the flotation of coal in India because the issue price is attractive and the company to publish 15 to 18 percent growth. They believe that the fair price of CIL per share would be Rs 265-315. experts said today that the fall was expected because the cash flow to the flotation of CIL. Coal India IPO will close on 21 October.
To qualified institutional buyers, including FII, insurance companies and investment funds, the IPO will close on 20 October. mailing list, the market capitalization of the company would be an amazing R. 1,54,750 crore
(Y 34.70 million) with a 90 percent stake with the government and 10 percent with the public.
Coal India has the largest reserves of coal and is also the largest owner and producer in the world. Has access to 64.3 million tons of coal reserves, which represents 6 percent share of the world’s known reserves. The company is one of the lowest cost producers worldwide (and 12/tonne) and sell coal at a great discount. On the other hand, the quality of coal in India is not the best. The IPO has garnered support from most bullish market experts believe that would be the star attraction this week for all, including retail investors.
“This week, the main attraction for retail investors would be the primary market with the mega IPO of Coal India will open its doors on Monday,” said Delhi-based SMC Global Securities Research head of retail Saurabh Jain.
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