Disinvestment of Coal India Ltd (CIL) through OFS was successfully completed today. An amount of ₹ 22557.63 crore was realized through the CIL disinvestment process. This is the largest ever disinvestment among Central Public Sector Enterprises (CPSEs) which involved disinvestment of 5% of the paid-up equity of Government of India (with an option to retain additional 5% in case of oversubscription) in CIL. The total offer size (5%+5%) was totaling 63.16 crores shares. However the total bids received were for a quantity of 67.5 crores across all categories. The oversubscription to the total quantity was around 5%. The category wise break-up of bidded quantities is as under:

Client Category	Bid quantity	Allotted Qty	Allotted Amount (Rs crores)
Retail	55,647,668	54,149,737	1852.55
Non Institutional investors	7,153,275	7,143,047	256.20
Insurance (Public & Private)	349,747,288	317,088,756	11360.13
Mutual Funds	16,824,206	16,811,966	603.11
Others/FIIs & Banks (public & private)	245,869,462	236,442,934	8485.64
Total	675,241,899	631,636,440	22557.63

The major highlights of the issue are as under:

(i)   The CIL disinvestment has attracted the largest FII participation in a Government OFS.

(ii)  Out of the total shares offered for sale, 20% were allocated for Retail Investors i.e. those investors who placed bids for shares of total value of not more than ₹ 2.00 lakh. ₹ 1852.55 have been received from the retail investors, the largest in any OFS so far.

(iii)  Government of India offered 5% discount to Retail investors on price bid to attract more Retail Investors.

(iv) Government fixed ₹ 358/- floor price for the auction of shares which was 4.5% less than the closing price on 29.2.2015.

(v)   With this divestment, the Government of India’s share in CIL would come down to 79.65%.

(vi)  The Total receipts accruing to the Government from the CIL disinvestment are ₹ 22557.63/-

Disinvestment through OFS reduces government stake and records oversubscription including strong FII and retail demand. Disinvestment of Coal India Ltd was executed through an Offer For Sale, attracting bids exceeding the offer size and substantial FII participation; allotments were made across investor categories with a retail allocation and discounted retail price, a prescribed floor price for the auction, and resulting receipts to the Government while reducing its shareholding percentage.