Coal India extends fall as share sale begins

The stock was down 4% to Rs 265, extending its previous day's 4% decline on the BSE after the company's OFS of its equity shares began at price of Rs 266 per share today.

Shares of Coal India were down by 4.4% at Rs 265 per share on Wednesday in early morning trade, extending their 4% decline in the previous day on the BSE after the company’s offer for sale (OFS) of its equity shares began today.

The shares will be sold at a floor price of Rs 266, and the sale will be conducted on Wednesday and Thursday, the company said in a filing. The floor price is at a discount of 4% to Tuesday's closing price of Rs 277 on the BSE.

The government has decided to sell up to 186