Coal India IPO likely at 245 rupees per share

The Indian government is likely to price state run Coal India's initial public offering at the top end of the price range, raising about $3.5 billion, four sources with direct knowledge of the matter said. A panel of ministers will finalise the offer price late on Monday, the sources, who declined to be identified, said.
India is selling stakes in some 60 firms over the next few years, and the strong appetite for Coal India contrasts with the sluggish demand for some of its recent offerings and adds pressure on the government to price future deals attractively.
Coal India's IPO, the largest in the country's history, was subscribed more than 15 times by close on Thursday, with most bids at the top end of the 225 to 245 rupees price range.