Coal India's offer for sale opened to retail investors with non-retail buyers showing robust interest on the first day. The state-owned miner reported subscriptions of 8.14 times from this group amid mixed views on its future.
The offer for sale highlights Coal India's solid financial performance and history of paying consistent dividends. At the same time, investors face questions about long-term coal demand as the world moves toward renewable energy sources.
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Central Mine Planning & Design Institute (CMPDIL), a Miniratna PSU, aims to raise ₹1,842 crore through an offer for sale. The firm has recorded strong financial growth, supported by consistent coal demand and growing exploration prospects. Risks arise from heavy reliance on government revenue and possible policy moves toward green energy.
The government's offer to sell its stake in Central Bank of India attracted strong investor interest. The two-day issue closed on Monday with an overall subscription of 1.28 times.
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The Indian government has approved the listing and disinvestment of Mahanadi Coalfields through an initial public offering. This step enables Coal India to dilute up to 25 percent of its stake in the subsidiary. The subsidiary may also raise fresh capital through multiple routes as part of broader public sector reforms.
India's primary market is set for a subdued week, with only Leapfrog Engineering Services opening for subscription. Three companies—Mehul Telecom, Citius Transnet InvIT, and Property Share Investment Trust—are due to list following their recent offerings. Zero grey market premiums signal cautious investor sentiment and expectations of flat debuts.
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Dalal Street saw a notable decline with the Indian rupee hitting a record low for the second consecutive day. Key equity indices posted their largest single-day drop in six weeks.
Indian investors are increasingly turning to overseas markets as global equities outperform domestic ones, fueled by themes such as artificial intelligence.
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Crude oil prices surpassing $100 have erased Rs 20 lakh crore from Indian equity markets this week, amid escalating Iran conflict. The rupee hit a record low as foreign institutional investors continued selling, intensifying the downturn. Experts suggest the panic could present long-term buying opportunities.