The issue opened for non-retail investors on 27 May 2026 at a floor price of Rs 412 per share.

Investor response was strong. On the first day reserved for non-retail investors, bids were received for 45.17 crore shares against the total non-retail offer size of 11.09 crore shares, resulting in a subscription of 407.17%. Bids backed by 100% margin accounted for 14.30 crore shares, while bids without upfront margin stood at 30.87 crore shares.

The indicative price discovered during the non-retail bidding process was Rs 448.41 per share, while the clearing price was fixed at Rs 447.10 per share.

On the second day, which was open to retail investors and non-retail investors carrying forward their bids, the retail portion attracted bids for 1.61 crore shares against the total retail offer size of 1.23 crore shares, translating into a subscription of 130.29%.

The non-retail carry-forward portion received bids for 24.82 lakh shares, representing 2.01% of the total OFS size of 12.32 crore shares. Overall, bids for 1.85 crore shares were received on the second day, amounting to 15.04% of the total OFS size.

The government also offered up to 25,000 shares to eligible employees of Coal India, subject to necessary approvals. Employees could apply for shares worth up to Rs 5 lakh.

The successful completion of the OFS is expected to reduce the Government of India's stake in Coal India from 63.13% as of March 2026.

Coal India is India's largest coal producer and a Maharatna public sector undertaking. The company primarily engages in coal mining and production and supplies coal to power, steel, cement, fertilizer and other industrial sectors.

For the quarter ended March 2026, Coal India reported a 12.9% increase in consolidated net profit to Rs 10,839.18 crore, while revenue from operations rose 5.75% to Rs 46,490.03 crore compared with the corresponding quarter of the previous year.

Currently, shares of Coal India were down 0.35% at Rs 470.85 on the BSE.