Coal India IPO : CRISIL gives 5 out of 5

by khalid on 15/10/2010 · 0 comments

Coal India IPO has got 5 out of 5 by CRISIL (rating agency) and this rating/grading is Strong for a coal producing company. The grade 5 indicates that the fundamentals of the IPO are Strong compared to the other listed securities in India. The company is entering into primary market with an Initial Public Offer (IPO) of Rs 15,475.09 crores. The IPO is opening on 18th Oct 2010 and the shares will be available for subscription up to 21st Nov 2010. The premium of the issue will be decided through a 100% Book Building Process. The price band for the issue has been fixed at Rs 225 at the lower level and Rs 245 at the upper level. Coal India Limited is the largest coal producing company in the world. The company is a public sector undertaking of the Indian Government. It is involved in coal mining and production industry. The company is a Navratna company of Indian Government.

Issue Detail:-
Issue Open : 18th Oct 2010 – 21st Oct 2010
Issue Type : 100% Book Built Issue IPO
Issue Size : 631,636,440 Equity Shares of Rs 10 each
Issue Size : Rs. 14,211.82 – Rs 15,475.09 Crores
Face Value : Rs 10 Per Equity Share
Issue Price : Rs. 225 – Rs. 245 Per Equity Share (Retailer and Employee will get 5 Percent Discount)
Market Lot : 45 Shares
Minimum Order Quantity : 45 Shares
Listing At : BSE, NSE

Book running lead managers to the issue are Citigroup Global Markets India Private Limited, Deutsche Equities India Private Limited, DSP Merrill Lynch Limited, Enam Securities Private Limited, Kotak Mahindra Capital Company Limited and Morgan Stanley India Company Pvt Ltd.

Registrar of the Issue :- Link Intime India Private Ltd, Mumbai.

Brokerage Views :- Almost all the Brokerages and Analysts accept that the pricing of the issue is better than expectations. As the government has fixed a price band at Rs 225 yo Rs 245 a share and is offering more than 63 crore shares via IPO. So apply for good gain. Best of luck.

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