New Delhi, May 27 (H.S.): The Central Government has initiated the process to divest a 2 percent stake in public sector mining company Coal India Limited (CIL). The Offer for Sale (OFS) opened for non-retail investors on Wednesday. The floor price for the issue has been fixed at ₹412 per share. The government is expected to raise approximately ₹5,000 crore through the stake sale.

Under the two-day OFS, the government is selling around 12.32 crore shares, including a 1 percent greenshoe option. Retail investors will be able to place bids for the shares on May 29, as the stock market will remain closed on May 28.

According to data from the Bombay Stock Exchange (BSE), bids for nearly 27.39 crore shares were received from non-retail investors within an hour of the market opening. This was significantly higher than the 5.54 crore shares reserved for them. The indicative bid price for CIL shares stood at ₹414.57 per share.

The floor price of ₹412 fixed by the government for the OFS is nearly 10 percent lower than Tuesday’s closing price of ₹458.25 per share. Meanwhile, on Wednesday, the company’s stock was trading at ₹447.70, down 2.30 percent.

Notably, this is the second OFS launched for a government-owned company in the current financial year 2026-27. Earlier, the government had raised ₹2,266 crore by selling an 8.08 percent stake in Central Bank of India.

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Hindusthan Samachar / Jun Sarkar