Coal India Sets IPO Price at Top of Range .

The Wall St Journal.com reports that the largest IPO issued by the country to date, has proven enormously popular for Coal India.  They have positioned the price at the top end of the range, at 245 rupees a share.

The story is quoted as saying:

The issue of nearly 631.64 million shares had bids for almost 9.65 billion shares, or 15.28 times the shares on offer. The institutional part of the issue was covered 24.7 times, while the section reserved for wealthy individuals was covered 25.4 times and the retail tranche 2.31 times. The indicative price range for the shares was 225 rupees to 245 rupees.

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