Coal India (CIL), the country’s largest coal-producing company, experienced a favorable listing on the Bombay Stock Exchange, bringing Diwali cheer to retail investors. The shares opened at Rs 287.75 and peaked at Rs 340 during the mid-session. The initial public offering (IPO) had successfully raised Rs 15,200 crore at the issue price of Rs 245 per share.
Retail investors, who were allotted shares at a 5% discount to the final issue price, received 199 shares, resulting in significant listing gains. CIL Chairman Partha Bhattacharyya expressed satisfaction with the positive listing and highlighted the historical significance for both Coal India and the Indian capital market.
The IPO’s success is seen as a rewarding investment for small investors, and the optimistic listing is expected to contribute to the stock’s outperformance in the future. With returns of Rs 92 per share upon listing, retail investors secured profits, marking a significant milestone for Coal India.
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