<p>The book building for qualified institutional buyers will close one day prior to the bid's closing date, state-owned Coal India Ltd Chairman Partha S Bhattacharyya told PTI.<br />The PSU's 4-day public issue is expected to take off on October 18.<br /><br />This model (entire one day for retail and high networth individuals) helped several companies, which hit the market with their offers recently, attract more participation from the non-institutional investors.<br /><br />The model was followed in the recently-concluded public offers of SKS Microfinance, Bajaj Corp and state-run Engineers India Ltd, where a huge response was seen from retail and high networth individual categories.<br /><br />An Empowered Group of Ministers (EGoM) working on CIL IPO, which garner up to Rs 15,000 crore, would meet by this month-end to decide on the anchor investor issue and on October 12 on the price band of the shares being offered, Bhattacharyya added.<br />He further said final papers (red herring prospectus) for the initial public offer will be considered on September 25 when the coal giant's board will meet.<br /><br />Capital market regulator Securities and Exchange Board of India this week cleared the draft papers of Coal India Ltd's IPO, paving the way for the government-run coal giant to file red herring prospectus.<br /><br />The regulator had asked the coal major to file the final papers (RHP) with a few more details.Coal India had filed its draft red herring prospectus on August 9 this year.<br />As per the Draft Red Herring Prospectus (DRHP) filed by the company with Sebi, CIL will offer 631,636,440 shares of face value of Rs 10 each.<br /><br />The government expects to raise up to Rs 12,000-15,000 crore through Coal India public issue, billed as the country's largest ever. Anil Dhirubhai Ambani Group firm Reliance Power, in January 2008, raised Rs 11,500 crore through IPO -- the biggest in India till date.<br /><br />The government is diluting its 10 per cent stake in CIL through this issue. At present, the government owns a 100 per cent stake in the company.The coal major is offering a discount of 5 per cent on issue price of IPO to its employees and retail buyers, Bhattacharyya added.<br /><br />Citigroup Global Markets India, Deutsche Equities (India) Private, DSP Merrill Lynch, Enam Securities, Kotak Mahindra Capital and Morgan Stanley are the book running lead managers to the issue.</p>
<p>The book building for qualified institutional buyers will close one day prior to the bid's closing date, state-owned Coal India Ltd Chairman Partha S Bhattacharyya told PTI.<br />The PSU's 4-day public issue is expected to take off on October 18.<br /><br />This model (entire one day for retail and high networth individuals) helped several companies, which hit the market with their offers recently, attract more participation from the non-institutional investors.<br /><br />The model was followed in the recently-concluded public offers of SKS Microfinance, Bajaj Corp and state-run Engineers India Ltd, where a huge response was seen from retail and high networth individual categories.<br /><br />An Empowered Group of Ministers (EGoM) working on CIL IPO, which garner up to Rs 15,000 crore, would meet by this month-end to decide on the anchor investor issue and on October 12 on the price band of the shares being offered, Bhattacharyya added.<br />He further said final papers (red herring prospectus) for the initial public offer will be considered on September 25 when the coal giant's board will meet.<br /><br />Capital market regulator Securities and Exchange Board of India this week cleared the draft papers of Coal India Ltd's IPO, paving the way for the government-run coal giant to file red herring prospectus.<br /><br />The regulator had asked the coal major to file the final papers (RHP) with a few more details.Coal India had filed its draft red herring prospectus on August 9 this year.<br />As per the Draft Red Herring Prospectus (DRHP) filed by the company with Sebi, CIL will offer 631,636,440 shares of face value of Rs 10 each.<br /><br />The government expects to raise up to Rs 12,000-15,000 crore through Coal India public issue, billed as the country's largest ever. Anil Dhirubhai Ambani Group firm Reliance Power, in January 2008, raised Rs 11,500 crore through IPO -- the biggest in India till date.<br /><br />The government is diluting its 10 per cent stake in CIL through this issue. At present, the government owns a 100 per cent stake in the company.The coal major is offering a discount of 5 per cent on issue price of IPO to its employees and retail buyers, Bhattacharyya added.<br /><br />Citigroup Global Markets India, Deutsche Equities (India) Private, DSP Merrill Lynch, Enam Securities, Kotak Mahindra Capital and Morgan Stanley are the book running lead managers to the issue.</p>