Coal India Shares Plunge as Government Plans Stake Offload via OFS on Thursday, Signaling Shift in Energy Priorities
Coal India Shares Plunge as Centre Likely to Offload Stake via OFS on Thursday Introduction: Coal India Limited, one of the largest coal mining companies in the world, is facing a significant setback as the Indian government plans to offload its stake in the company through an Offer for Sale (OFS). The news has sent shockwaves through the market, causing a plunge in Coal India's share price. This move is part of the government's broader divestment strategy and is expected to have far-reaching implications for both the company and the coal sector as a whole. The OFS Plan: The Indian government, through the Department of Investment and Public Asset Management (DIPAM), is reportedly planning to sell a portion of its stake in Coal India via the OFS route. The OFS mechanism allows the government to sell shares to institutional and retail investors at a discounted price compared to the prevailing market price. This approach aims to attract a wide range of investors and facilitate ...