Goa, May 26 -- The Government of India has announced an Offer for Sale (OFS) for state-run coal giant Coal India Limited, with plans to sell up to a 2% stake in the company beginning Wednesday. According to an exchange filing, the government will initially offload 6.16 crore equity shares, representing 1% of Coal India's paid-up equity capital. An additional 1% stake may also be sold through an oversubscription option, taking the total offer size to 12.32 crore shares.

The floor price for the OFS has been fixed at Rs 412 per share, nearly 10% lower than Coal India's Tuesday closing price of Rs 455.90 on the NSE. The discounted pricing is expected to attract strong investor interest during the share sale window.The OFS will open for non-r...