Coal India IPO 32 covered by noon

State-run Coal India Ltd8217;s Rs 15,000 crore mega initial public offering got subscribed roughly 32 per cent covered by early afternoon on Monday,the first day of bids,stock exchange data showed.

The offering had received bids for over 205 million shares,exchange data showed. Coal India is selling more than 631.6 million shares in its IPO.

Large IPOs in India typically see the heaviest subscription towards the close of the offering. Coal India8217;s IPO closes on Wednesday for institutional investors and Thursday for retail investors.

Morgan Stanley,Citigroup,Kotak Mahindra Capital,Enam Securities,Deutsche Bank and Bank of America-Merrill Lynch are managers on the offer.