This document is a regulatory notice filed by the Ministry of Coal, Government of India, to the Managing Directors of BSE Limited and the National Stock Exchange of India Limited. It serves as formal communication of an Offer for Sale (OFS) of equity shares in Coal India Limited, in compliance with SEBI Master Circular reference number SEBI/HO/MRDPoD2/CIR/P/2024/00181 dated December 30, 2024, and relevant stock exchange circulars.

The President of India, acting through the Ministry of Coal, Government of India (the Promoter/Seller), proposes to sell up to 61,627,283 Equity Shares of face value ₹10 each. This represents 1.00% of the total paid-up equity share capital of the Company and constitutes the "Base Offer Size".

The Seller holds an "Oversubscription Option" to sell an additional 61,627,283 Equity Shares (representing another 1.00% of the total paid-up equity share capital). If exercised, the total Offer Shares would be 123,254,566, representing 2.00% of the total paid-up equity share capital. The decision to exercise the oversubscription option will be intimated to the stock exchanges after trading hours (by 5 p.m.) on T day (May 27, 2026).

Additionally, an "Employee Offer" of up to 25,000 Equity Shares may be made available to eligible employees of Coal India Limited, subject to competent authority approval. Each eligible employee may apply for shares worth up to ₹500,000.

Key Offer Details

  • Stock Exchanges: BSE and NSE
  • Designated Stock Exchange: BSE
  • Designated Clearing Corporation: NSE Clearing Limited
  • Floor Price: ₹412.00 per Equity Share
  • Retail and Employee Discount: Nil

Offer Schedule

The OFS will be conducted over two trading days on a separate window of the stock exchanges:

  • T Day (May 27, 2026): Open from 9:15 a.m. to 3:30 p.m. IST. Bidding is exclusively for non-Retail Investors. These investors may indicate a willingness to carry forward un-allotted bids to T+1 day.
  • T+1 Day (May 29, 2026): Open from 9:15 a.m. to 3:30 p.m. IST. Bidding is for Retail Investors and Employees. Non-Retail Investors who chose to carry forward their un-allotted bids may revise them on this day.

Allocation Methodology

  • Non-Retail Investors: Allocation is at or above the Floor Price on a price priority basis. A minimum of 25% of the Offer Shares are reserved for Mutual Funds and Insurance Companies, subject to valid bids. Unsubscribed portions from this reservation become available to other non-retail bidders. No single bidder (except Mutual Funds/Insurance Companies) can be allocated more than 25% of the Offer Shares.
  • Retail Investors: Defined as individual investors placing bids for a total value not exceeding ₹200,000 across both stock exchanges. 10% of the Offer Shares are reserved for allocation to Retail Investors. They may bid at any price above the Floor Price or at the "Cut-Off Price" (the lowest price at which shares are sold in the non-retail category).
  • Employees: May bid only at the "Cut-Off Price". The allotment limit per employee is ₹200,000, which can be increased to ₹500,000 in case of under-subscription in the employee category.

Seller's Brokers

The OFS will be undertaken exclusively through the following Seller's Brokers:

1. Axis Capital Limited (BSE: 6105; NSE: 13872)

2. ICICI Securities Limited (BSE: 103; NSE: 07730)

3. JM Financial Institutional Securities Limited (BSE: 400; NSE: 12966)

4. Kotak Securities Limited (BSE: 673; NSE: 08081)

5. SBICAP Securities Limited (BSE: 095; NSE: 10529)

Kotak Securities Limited will also act as the Settlement Broker.

Conditions for Withdrawal/Cancellation

  • The Seller reserves the right to not proceed with the Offer anytime before it opens on T Day. A 10-trading-day cooling-off period would follow any withdrawal.
  • The Offer may be cancelled in full if there is insufficient demand at or above the floor price, a default in settlement obligation, or failure to get sufficient demand from non-retail investors on T day.

Settlement

Settlement will occur on a trade-for-trade basis. The timing of settlement (T+1 or T+2) depends on the investor category and the day of bidding, as detailed in the notice.

Important Legal Information

The notice contains extensive legal and regulatory disclaimers. It clarifies that this is not a public offer requiring a prospectus. It outlines strict restrictions on the offer, publication, and distribution of the notice and the shares, particularly in the United States and other jurisdictions ("Other Jurisdictions"). The Offer Shares have not been and will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States except to Qualified Institutional Buyers (QIBs) who are also Qualified Purchasers (QPs) in exempt transactions. Detailed representations and warranties are required from bidders based on their location and status.

The notice is signed by Pradeep Raj Nayan, Under Secretary at the Ministry of Coal, Government of India.