Coal India IPO price band set at Rs 225-245 per share

Retail investors will get 5% discount

The government has set Rs 225-245 per share price band for the initial public offer (IPO) of state-run Coal India. Retail investors will get shares at 5% discount on the final issue price to be discovered through the book-building route. The IPO opens for bidding on 18 October 2010 and closes on 21 October 2010.

The government plans to raise about Rs 15000 crore from divestment of 10% stake in Coal India. The Coal India IPO is billed as the country's largest issue ever. The Indian government is selling roughly 63.16 crore Coal India shares, or 10% of the company.