Indian IPO sector has seen a lot of action since the Coal India Limited filed for an initial public offering. The IPO was oversubscribed for 15 times signaling other government-owned companies to jump into the IPO market and make history. Government-run companies like Power Grid, ONGC, Steel Authority of India and India Oil Corporation are planning to enter the markets very soon.
CIL IPO highlights
- Coal India IPO is the biggest IPO in India so far.
- Coal India IPO succeeded due to the ever-increasing trust of investors in the Company –Coal India Ltd.
- Steady improvements in Coal India Ltd’s performance and quality have been two major hallmarks of this IPO.
- Both foreign and domestic investors have shown robust confidence as far as the company’s credibility is concerned.
- The CIL IPO has received maximum bids up till now.
- Indian Government has sold 631.6 million shares in the IPO so far.
- Investors has borrowed heavy money to subscribe for the Coal IPO shares, the price band was kept between Rs. 225 to 245.
The Indian capital market and stock futures turned back into gold since the subscription of CIL IPO began. The initial public offer mobilized 236,000 crore going far beyon d the estimated target of 15,500 crore.
