The government has successfully raised Rs 4,185 crore by selling a three percent stake in state-run Coal India Limited (CIL). Following the offer-for-sale (OFS), the government's ownership in the coal producer now stands at 63.13 percent, as reported in a filing to the stock exchange by CIL.

According to the Department of Investment and Public Asset Management (DIPAM) website, the government has received the aforementioned amount through the stake sale. The OFS in Coal India, which took place last week, witnessed oversubscription from both retail and institutional investors.

In the current fiscal year, the government has raised a total of Rs 4,235 crore through stake sales in public sector undertakings (PSUs). The disinvestment target for the full year is set at Rs 51,000 crore.