Coal India OFS: 10% discount, floor price at Rs 412; stock in focus today

Shares of Coal India Ltd (CIL) are in focus on Wednesday morning after the government set floor price for the proposed offer for sale (OFS) at Rs 412 apiece, a 10.09 per cent discount to the prevailing CIL share price of Rs 458.25 per share. The government, which held 63.13 per cent stake in Coal India as of March 31, has offered to sell up to 61,627,283 shares in state-owned coal mining firm, representing 1 per cent of the total paid-up equity share capital, as the base offer size. The issue will run on May 27 and May 29, 2026. Markets will be shut on Thursday, May 28, on account of Bakri Id.

Meanwhile, the government has kept open an option to additionally sell 61,627,283 equity shares, representing another 1 per cent of the total issued and paid up equity share capital, in case of oversubscription, through a separate, designated window of BSE and NSE. 

Only non-retail investors could participate in the Coal India OFS on Wednesday. While placing their bids, these investors may indicate their willingness to carry forward their un-allotted CIL bids to T+1 day for allocation to them in the unsubscribed portion of retail category.

The Coal India OFS would take place during trading hours on a separate window of the stock exchanges, commencing at 9:15 am. Non-retail investors, who would place their bids on T day and carry forward their un-allotted bids to T+1 day, would be allowed to carry forward and also revise their bids on T+1 day as per the OFS Guidelines.

For retail investors, employees and for non-eetail investors, who choose to carry forward their un-allotted bids to T+1 Day, bids would be allowed on May 29. 

"Only Retail Investors and Employees shall be allowed to place their bids on T+1 day, i.e., May 29, 2026. Further, those non-Retail Investors who have placed their bids on T day and have chosen to carry forward their unallotted bids to T+1 day, shall be allowed to revise their bids on T+1 day as per the OFS Guidelines," Coal India said.

Ahead of the OFS, Coal India informed stock exchanges that there is a 168 million tonne (MT) coal buffer to meet the summer demand. Coal stocks at domestic coal-based plants stood at 47.6 mt as on May 23, while the coal inventory at CIL’s own mine heads at a comfortable level of 113.5 mt on May 24, ahead by 10 per cent year-on-year. 

"This level is sufficient to meet 19 days of consumption. Added to this, around 3 MTs of coal is awaiting at transit points such as goods sheds, private washeries and ports. Rakes on Run, that is, coal in transit at any point of time is around 4 MTs making a total of 168 MTs of coal available in the system," Coal India said while allaying supply-related concerns.