The government on Monday fixed Coal India's mega IPO issue price at Rs. 245 per share, the upper end of initial offer price range.The government would fetch over Rs. 15,000 crore by issuing 63.16 crore shares of Coal India at a price of Rs. 245 per share. It will offer a discount of five per cent to retail investors.  Coal India Ltd's initial public offer, which closed on October 21, made history by getting oversubscribed by 15.17 times mopping up Rs. 2,35,290 crore.  The IPO, which had a price band of Rs. 225-245 per share, garnered total demand for over 960.36 crore shares, as against 63.16 crore on offer. The Indian government on Monday priced state-run Coal India's IPO at 245 rupees, the country's coal minister said, buoyed by the strong response from foreign investors looking at broader exposure to the Indian economy.

SBI start merchant acquiring business Very soon

SBI has said it will soon start business of facilitating payment through debit or credit card at retail outlets and is finalising shareholding pattern with foreign partners. It plans to deploy six lakh POS terminals in the first five years of its operations. RBI has already approved the setting up of a wholly owned subsidiary for conducting merchant acquiring business by the bank in the name of SBI Payment Services.US-based Elavon Incorporation and Visa International are joint venture partner of SBI for merchant acquiring business. -rs-245-share-112917.

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