Coal India IPO : Opening on 18th Oct 2010

by khalid on 01/09/2010 · 4 comments

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. The company is entering into primary market with an Initial Public Offer (IPO) of 631,636,440 Equity Shares of Rs. 10 each. The IPO is opening on 18th Oct 2010 and the shares will be available for subscription up to 21st Oct 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 to Rs 245.

The objects of the IPO are to carry out the divestment of 631,636,440 Equity Shares by the Selling Shareholder and to achieve the benefits of lisitng the Equity Shares on the Stock Exchanges.

The equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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 is 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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{ 4 comments… read them below or add one }

vaibhav October 18, 2010

Hi Mr. Khalid ,
I have my DMAT acc mapped with my Saving acc and I use the OnlineSBI Bank facility to apply for IPO , the amount get lien from my saving acc. Can I apply from Online SBI ASBA , for IPO using my mother’s DMAT account and PAN no and giving my saving account no.
vaibhav

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khalid October 18, 2010

Hi Vaibhav
I use ICICI Bank for applying IPOs and here its not possible to use others Demat for applying IPO. I think similar conditions would be their too in SBI Online.
khalid

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Sanjay Kumar Jain October 20, 2010

I hold SBI credit Card, Can I apply thru it. You are requested to please wthat is the meaning of ASBA

Reply

khalid October 20, 2010

Hi Sanjay

For applying to any IPO you should have a Demat account, credit card will not do. ASBA (application supported by blocked amount) is a feature given by banks doer IPO application. In this amount allocated to IPO is blocked in your account itself and transferred to the company only you get allotment of shares.
Thanks for your visit.

khalid

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