In order to comply with a norm which requires listed companies to have at least 25 per cent public shareholding, the Centre is likely to divest 5 per cent to 10 per cent stake in Coal India.
A sale of 10 per cent Coal India share will allow the Centre to mop up more than Rs 16,000 crore.
Coal India's share closed at Rs 261.50 on BSE on Thursday. The Centre held 78.32 per cent in CIL at end of June, while public shareholding was at 21.68 per cent.
The norm for companies like CIL requires that they should have at least 25 per cent public holding by August 21.
Meanwhile, the CIL management has started conducting road shows for large institutional investors in the UK, Singapore and Hong Kong for the sale of stake.
Centre to divest 5 to 10 per cent stake in Coal India
By IndianMandarins - 2018-07-21 11:07:50
In order to comply with a norm which requires listed companies to have at least 25 per cent public shareholding, the Centre is likely to divest 5 per cent to 10 per cent stake in Coal India.
A sale of 10 per cent Coal India share will allow the Centre to mop up more than Rs 16,000 crore.
Coal India's share closed at Rs 261.50 on BSE on Thursday. The Centre held 78.32 per cent in CIL at end of June, while public shareholding was at 21.68 per cent.
The norm for companies like CIL requires that they should have at least 25 per cent public holding by August 21.
Meanwhile, the CIL management has started conducting road shows for large institutional investors in the UK, Singapore and Hong Kong for the sale of stake.
