© The Financial Times Ltd 2014 FT and 'Financial Times' are trademarks of The Financial Times Ltd.
Coal India’s bankers won’t have much trouble getting the IPO away with the $3.5bn offer subscribed 15 times over when the books closed.
With $48.7 billion of bids in hand when the offer ended for both institutional and retail investors, the government is sitting pretty. It is in the happy position of being able to price the sale of the state-run corporation at the high end of the 225-245 rupee per share range, giving Coal India a likely market value of around $35bn.
- Q&A: How does the spending review affect feed-in tariffs? – The Guardian
- Offshore wind expected to double in 2010 – Reuters
- Dana chief quits after hostile takeover – The Times (£)
- Dynegy defends Blackstone buyout – Argus
- Essar to acquire African oil and gas assets – Economic Times
- Can Canada afford the oil sands? – The Globe and Mail
- Three environmental groups sue BP over spill – LA Times
- How the Gulf spill was good for America – NY Times Dot Earth