Coal India investors can withdraw bids up to October 25
Those who have invested in Coal India Ltd’s Rs15,000 crore public float will get a five-day window if they wish to withdraw their applications in India’s biggest ever initial public offer (IPO). Investors can withdraw their bids because there has been a mistatement in Coal India’s financials.
Investors will be able to withdraw their bids till the end of Monday, 25 October.
The withdrawal option has been given because of a small clerical error in the financial statements of Coal India. The statements have interchanged other income with closing stock. This has led to some difference in numbers.