Coal India to Sell up to 10 Percent Equity Stake

Posted on 29th Jan 2015 04:05 pm by mohit kumar

New Delhi/Kolkata, Jan 28 (IANS) The central government Wednesday said it would sell up to 10 percent equity stake in state-owned Coal India Ltd. (CIL) numbering a maximum of 631,636,440 shares through the offer for sale (OFS) route. The sale will begin on Jan 30.

The floor price will be decided by the government Jan 29 and the sale is expected to fetch Rs.24,000 crore.

The initial number of shares available for trading will be 315,818,220, each priced at Rs.10, and an additional number of shares of the same number and pricing will be put on OFS thereafter.

The company has submitted a filing with the National Stock Exchange (NSE) announcing the offer for sale.

"The president of India, acting through and represented by the ministry of coal, government of India, has submitted to the exchange, a copy of announcement with respect to offer for sale through stock exchange mechanism for sale up to 31,58,18,220 equity shares of Coal India Limited by president of India, acting through and represented by the ministry of coal, the government of India (seller)," NSE said in a filing update.

At present, the central government holds 89.65 percent stake in CIL. Besides, 20 percent of the OFS has been reserved for retail investors.

Other news

Corona virus may wreak havoc in Mumbai, 75 thousand cases may occur by May 15

Mumbai

For Mumbai battling Coronavirus in Mumbai, difficulties are going to increase. The

A very important meeting for Pakistan, FATF will decide on a gray list

The virtual meeting of the Financial Action Task Force (FATF) starting on Wednesday is very impor

India’s Covid-19 cases cross 400, death toll at 7

इंडियन मेडिकल काउंसिल ऑफ मेडिकल रिसà¤

Accused of contempt of Supreme Court: Kunal Kamra wrote an open letter and said - no intention to withdraw the tweet or apologize

The comedian opened a letter to Supreme Court judges and the central government's biggest lawyer

This is how IDF destroyed the missiles fired by Iran in the air, know how Israel's defense system works

A few days ago, Israel carried out air strikes with missiles on Iran. Israel claimed that Iran fi

Russia-Ukraine War Updates: Russia Claims Occupation of Mariupol; Emotional message of Ukrainian soldier to wife - we may not meet now

The war between Russia and Ukraine that started on 24 February is still going on. On Friday, Russ

COVID Update: 609 new cases of coronavirus reported in 24 hours, 3 patients died; Mock drill started in some states

Covid cases have started declining once again in the country. The Health Ministry said on Friday

Alia Bhatt Pregnancy: Ranbir had already announced the good news? Can you get a child's name tattoo done?

A little guest is going to come soon to the Kapoor family. Actresses Alia Bhatt and Ranbir Kapoor

Modi prays at Golden Temple, visits Jallianwala Bagh

Amritsar, March 23 (IANS) Walking in the midst of hundreds of devotees, Prime Minister Narendra

Unemployment: Unemployment in cities is at one-year high, 7.18 percent in villages in 15 days of August

The unemployment rate in urban areas has reached 9.35 percent in the first 15 days of this month.