Reuters sets agenda with fund manager poll on Coal India IPO
10.15.2010
Reuters clients were treated to an exclusive poll of fund managers on the likely pricing for Coal India’s IPO, the largest in the country`s history. The responses from potential investors in India, Hong Kong and Singapore revealed the IPO would rake in more than the initially estimated $3 billion, and also that the pricing was expected to be around 250 rupees a share. The government set a price range of 225 to 245 rupees a share late on Oct 12, pleasing investors with its slightly lower than expected range. On Oct 19, most institutional bids came in at the higher end of the range, indicating a fundraising of $3.5 billion. The Reuters story was widely carried in both national and international media, while Bloomberg conducted a similar poll of fund managers three days later, on Oct 15.
