OPINION: Success, at last.

from BUSINESS LINE, October 23, 2010 The thumping success of Coal India's Initial Public Offering (IPO), the largest in the Indian equity market till date, has many positive implications for the domestic economy and its capital markets. This marks a turning point in the government's divestment programme, which has been grappling with tepid investor response. The success of the offer is also a pointer that changes in IPO regulations, which have cut opportunity costs for investors and put retail investors at an advantage over institutions, are finally paying off.

That Coal India's Rs 15,000-crore offer has attracted bids worth Rs 2.3 lakh crore is an indication of the faith that …