An amount ranging from two hundred and twenty five to two hundred and forty five rupees has been set by the government for the IPO of Coal India Ltd.

This is their first venture in floating shares and the firm expects to raise a sum of fifteen thousand crores of rupees from the issue if it gets full subscription. The issue will commence from October 18.

The price band had been set by a panel of ministers headed by the Finance Minister Mr. Pranab Mukherjee on Tuesday evening. Mr Sriprakash Jaiswal, the Coal minister had stated that retail investors will get five percent discount and another five percent for employees of CIL as well as its subsidiaries.

The price band was fixed with the target of keeping the offer attractive and raising maximum amount of funds. The panel of ministers arrived at the figure keeping in mind the share prices offered by global coal firms like China Shenhua Energy.

The issue will be starting on October 18 and close on 21 October. There are apprehensions that investors might sell other shares and procure money for investing in the CIL IPO and some other think that there is enough money in the market to subscribe for the CIL issue.

Today the market opened with a positive note as most of the global markets are doing fine. The market might get surprised with the earnings figure released by firms. Results of inflation for the month of September and earnings of Infosys will be reported on Friday.

US companies like Intel and Acola have submitted results which are better than what were expected from them. Market is keenly observing the Federal Reserve as they are thinking of another quantitative easing. How big it will be and when it is going to happen are not yet fixed. One has to wait and see.