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Mumbai: In a stellar debut on bourses, state-run Coal India Ltd (CIL) today listed at Rs287.75 on the Bombay Stock Exchange (BSE), a gain of 17.44% over the issue price, reports PTI.
Within two hours of the opening, the scrip was trading at Rs330, a jump of 34% over the issue price of Rs245 a share.
In a similar fashion, the stock debuted at Rs291, a gain of 18.77%, on the National Stock Exchange.
"The listing is spectacular and is very much in-line with market expectations. Retail investors have got their pie and I believe the stock will be in limelight throughout the day and is likely to close above Rs300," Ashika Brokers research head Paras Bothra said.
On the volume front, over 18 crore shares of the company were traded on the two bourses within the first thirty minutes of trade.
Coal India had raised a record Rs15,200 crore through an IPO priced at Rs245 a share - the higher end of the price band of Rs225-Rs245.