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Coal India Ltd’s Rs 15,000 crore (Rs 150 billion) mega issue, which opens on Monday for public subscription, has garnered a bullish endorsement from most of the market experts who believe it would be the star attraction of this week for all, including retail investors.
“This week the main attraction for retail investors would be the primary market with the mega IPO of Coal India slated to open on Monday,” Delhi-based SMC Global Securities Research head of retail Saurabh Jain said.
CIL’s initial public offering, priced in the range of Rs 225 to Rs 245 per share, is the biggest issue in the Corporate India’s history so far.
The offering opens on Monday and closes on October 21. For qualified institutional buyers, which include FIIs, insurance firms and mutual funds, the IPO will close on October 20.
Analysts said the issue would be important not only for primary markets but also to secondary market participants who will be watching it closely. In fact, such was the momentum to stock up cash for CIL issue that in just last two trading sessions the BSE benchmark Sensex sank by a whopping over 500 points.
Besides, there will be some short-term pressure in money market, as experts believe there could be a total liquidity impact of roughly about Rs 1.5 lakh crore (Rs 150,000) during this IPO.

Coal India Ltd’s Rs 15,000 crore (Rs 150 billion) mega issue, which opens on Monday for public subscription, has garnered a bullish endorsement from most of the market experts who believe it would be the star attraction of this week for all, including retail investors.
“This week the main attraction for retail investors would be the primary market with the mega IPO of Coal India slated to open on Monday,” Delhi-based SMC Global Securities Research head of retail Saurabh Jain said.
CIL’s initial public offering, priced in the range of Rs 225 to Rs 245 per share, is the biggest issue in the Corporate India’s history so far.
The offering opens on Monday and closes on October 21. For qualified institutional buyers, which include FIIs, insurance firms and mutual funds, the IPO will close on October 20.
Analysts said the issue would be important not only for primary markets but also to secondary market participants who will be watching it closely. In fact, such was the momentum to stock up cash for CIL issue that in just last two trading sessions the BSE benchmark Sensex sank by a whopping over 500 points.
Besides, there will be some short-term pressure in money market, as experts believe there could be a total liquidity impact of roughly about Rs 1.5 lakh crore (Rs 150,000) during this IPO.

Source Business Standard

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