Retail investors shunned the ₹ 22,612.58-crore Coal India offer-for-sale (OFS) through stock exchanges which happened on Friday.
Though the issue was oversubscribed 1.0₹69 times with subscription for 67,52,41,899 coming in , the retail investor portion saws a tepid response with a subscription of 5,56,47,668 or 0.44 times out of the allocated portion of the 12,63,27,288 shares.
Non–retail investors subscription to the issue was over 1.22 times the quota of 50,53,09,152 shares at 61,95,94,231.
The indicative price for non-retail portion was ₹ 358.50 per share while the indicative price for retail investors was ` ₹ 360.11 per share.
Meanwhile, the Coal India scrip eroded 3.81 per cent on the BSE to close at ₹ 360.85 per share.