MUMBAI (Reuters) - Coal India Ltd shares fell around 3 percent on Friday after the government said on Thursday that it would sell shares in the coal miner at a discount.
India has priced the Coal India stake sale at a 4.5 percent discount to the Thursday close, as it looks to lure buyers for the biggest ever offering in the local equity market.
The government will sell 315.8 million shares with an option to sell another 315.8 million in the auction, which will start at 9.15 am and end at 3.30 pm on Friday.
(Reporting by Indulal PM; Editing by Subhranshu Sahu)