Coal India share sale to employees receives a lukewarm response

Only 1,000-1,200 online applications received; share sale offer in open market had seen only 0.2% oversubscription

Coal India has received a lukewarm response from its employees after its stocks were offered to them at a discount.

This comes after its stake sale offer in the open market got a tepid response — only 0.19 per cent oversubscription option was exercised despite provisioning a 6 per cent green-shoe option.

Sources in Coal India suggested that so far around 1,000-1,200 online applications have been received while the offline submissions are yet to be collated. “After all these submissions come, we need to collate and check if employees subscribing to company shares are valid. By Tuesday, we will have a full