The mega issue of 631.64 million shares received subscriptions for over 56.85 million shares in the morning trade itself. The bids were mostly in the higher end of Rs225-245 price band of the share issue, as per SE data. At the upper end of the price band of Rs 245, Coal India is priced at 14.7 times its estimated earnings for the current financial year against global average of coal companies of 12.1 times of the estimated earnings.