Coal India IPO has become a runaway success, beating all records to become the largest public issue in India. The initial public offer by Coal India has generated a total demand for shares worth Rs 2,34,716 crore (Rs 2.34 trillion), the biggest in the history of India's primary market. The state-run Coal India has surpassed the record of Reliance Power IPO that had attracted bids valued over Rs 2.05 trillion.
R-Power, in January 2008, had beaten the record of Mundra Port and SEZ's IPO that hit the market in 2007 and had received bids worth about Rs 2,00,000 crore (Rs 2 trillion).All set to get listed on the Bombay Stock Exchange and the National Stock Exchange on November 4, CIL is aiming a plum position among India's most valued companies.
The IPO, priced in a band of Rs 225-245 per share has been oversubscribed 15.17 times.Coal India is on its way to be the # 1 Industry in India.
Source: Rediff buisness
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