Coal India Ltd. offers IPO

Coal India Ltd., the world’s biggest producer of the fuel, received as much as 52.3 billion rupees ($1.2 billion) of bids on the first day of the nation’s largest initial public offering.

“The IPO will easily get subscribed and that is because the valuation is fair,” Samir Arora, founder of hedge fund Helios Capital Management Pte. in Singapore, said by telephone today. “That’s the biggest attraction. It’s a large company and it’s relatively cheap.”

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