Govt set to divest 10 per cent stake in Coal India

Through the OFS, scheduled on January 30, the government expects to earn Rs 24,000 crore

GN Bureau | January 28, 2015



The government is all set to sell 10 per cent of its stake in the state-owned Coal India Limited (CIL)  through an offer for sale route on Friday.

The floor price for the stake sale in the largest coal producer would be announced on Thursday after the market hours.

Based on the current share price, the government expects to earn over Rs 24,000 crore through this.

Under the disinvestment programme of the current government, CIL would be the second company to hit the market.  Earlier in December, the government earned over Rs 1,700 crores through 5 percent stake sale in steel giant SAIL.

The government had set Rs 58,425 crore as the disinvestment target for the current fiscal (2014-15).

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