Coal India, the largest coal miners of the world will be raising in the tune of three decimal five billion dollars from its launched IPO which is definitely more than what was expected earlier as the market is witnessing a strong rally and lots of investors are showing their interest for investing in the company.

According to poll conducted by a Reuters prospective investors are holding opinions that the expected price of the shares should be around two hundred and fifty rupees or five dollars sixty three cents per share. The values the IPO at thirty five billion dollars and positions it amongst other top Indian companies in terms of market value.

In respect to other coal firms of the world the valuation definitely is more attractive as per valuation taken from a Reuter’s poll conducted with eleven fund managers of Singapore, Hong Kong and India. Most the Firms have shown interest for investing in the IPO of Coal India. According to the poll the price range should be ranging between two hundred and twenty rupees to two hundred and eighty rupees.

Binay Chandgothia, the Chief Investment Officer of Hong Kong’s Principal AMC stated that most global companies will be investing in the shares provided the pricing of the issue is attractive.

He added saying that there are other coal firms in countries like Australia, China and Indonesia that come with offering of good coal exposure but compared to Coal India’s position in the market they are way behind.

The government is selling off ten percent of the company which is equivalent to six hundred and thirty one decimal six million shares all total. It can be said as the biggest IPO in the nation’s history.

On the later stage of Tuesday the price band for the IPO will be fixed by a panel of members from the government. The order book will be opening on 18, October. The final price of the issue will be set on or around October 23.