Coal India IPO Subscription – Rush for ‘Black Gold’
Mumbai, Maharashtra, October 20, 2010: Coal India IPO brings Rs. 1.83 lakh crore by end of 3rd day A rush for Black Gold.
A record is being built in initial public offers as global investors flocked to buy stock in State – controlled Coal India Limited, the largest coal producing company in the world.
The Coal India IPO brought in as much as Rs. 1.83 lakh crores, or 11.85 times, by the end of Wednesday, when the issue closed for Qualified Institutional Buyers (QIBs). Read More
Not a particularly “green” story here, but digging coal out of the ground and burning it has been going on for a long time – and of course it still does worldwide. And it is big business!
So it is not surprising that investors have formed a line a dozen times too long, to buy into the Coal India IPO (Initial Public Offering). Reports from Mumbai say that the $3.5bn IPO – set to be India’s largest ever and the world’s third largest – is over-subscribed by nearly twelve times, with hungry investors worldwide bidding for 7.3 billion shares – when only 6.3 million are on offer. Read More
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