The government made sure it will rake in over 22,500 crore rupees from the 10% stake sale in Coal India. After the CIL offer for sale was subscribed 1.2 times, sources say the issue found favour both among institutional and retail investors. The country's largest institutional investor LIC has also bid aggressively. Market experts say the rousing response to Coal India OFS will encourage the government to dust off stake sale plans in ONGC and Power Finance Corporation. Moreover, it will also make Finance Minister Arun Jaitley's job a lot easier ahead of the crucial Budget. Here’s an ET NOW report on the mega CIL share sale and what it means for the government. Also listen in to Divestment Secretary Aradhana Johri’s views on the same.
