Tag: Kotak Mahindra Capital

On the first day of Coal India’s much awaited $3.5bn share sale, which is set to be the country’s biggest IPO ever, the state-owned miner attracted $1.2bn of bids on Monday: a decent start for an offer that will close on Wednesday for institutional investors, and a day later for retail buyers.

In India most bids tend to come in on the final day. That’s why the optimistic bankers working on the deal predict it will be ten times over-subscribed. Investors, it seems, are expecting the shares to perform strongly on the back of growing demand for energy globally.

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