Coal India Stake Sale

The government has mopped up Rs 4,185 crore through a three per cent stake sale in state-run Coal India.

The government will offload up to 3 per cent stake in Coal India Ltd through the offer for sale route starting on Thursday and the disinvestment will fetch at least Rs 4,158 crore for the exchequer.

The government on Wednesday proposed to sell up to three per cent stake in Coal India Ltd through the offer for sale route from June 1. The Offer for Sale (OFS) will be open for retail and non-retail investors on June 1 and 2.

The government has invited preliminary bids for strategic sale of 26 per cent stake along with transfer of management control in defence PSU BEML.

List of Stocks In Focus Today: The government will sell up to 20 per cent stake in Indian Railway Catering and Tourism Corporation through an offer for sale

PM Modi in February had planned to raise as much as Rs 2.1 lakh crore selling state assets

Shares in Coal India closed 4 per cent weaker at 275.85 rupees on the National Stock Exchange on Tuesday.

Sale of a 10 per cent stake in Coal India is likely to be deferred to next fiscal year as the government wants to wait for stability in the equity markets for a better valuation.

The government's disinvestment kitty has almost doubled this year with over Rs 35,000 crore garnered through stake sales in PSUs, but not without the help of its all-time saviour Life Insurance Corporation (LIC), while a strong pipeline is ready for 2016 with blue chips like NTPC, Coal India and ONGC (Oil & Natural Gas Corporation).

Opposing an immediate stake sale in Coal India Ltd, foreign investors have told the Finance Ministry that further disinvestment in the coal miner should be put off as the current market valuation is low.

The stake sale, valued at about $3.2 billion at the current stock price, is part of government's aim to raise Rs 69,500 crore ($10.52 billion) by March by selling minority stakes in government-owned companies.

Coal and Power Minister Piyush Goyal told reporters today that government expects to raise around Rs 20,000 crore from the sale of 10 per cent stake in Coal India (CIL).

Eight investment banks including HSBC and India's ICICI Securities and SBI Capital have submitted bids to manage a 10-percent stake divestment in state-owned Coal India, IFR reported, citing a person close to the deal.

As challenges emerge in meeting the mammoth Rs 69,500-crore disinvestment target for this fiscal year, the government has said this is due to the global commodity slowdown as many identified PSUs are from this space.

The government has for the third time extended deadline for appointment of merchant bankers for the mega Rs 21,000-crore share sale in Coal India Ltd after global investment banks flagged concerns over the company allegedly not meeting green commitments.

The government has mopped up Rs 4,185 crore through a three per cent stake sale in state-run Coal India.

The government will offload up to 3 per cent stake in Coal India Ltd through the offer for sale route starting on Thursday and the disinvestment will fetch at least Rs 4,158 crore for the exchequer.

The government on Wednesday proposed to sell up to three per cent stake in Coal India Ltd through the offer for sale route from June 1. The Offer for Sale (OFS) will be open for retail and non-retail investors on June 1 and 2.

The government has invited preliminary bids for strategic sale of 26 per cent stake along with transfer of management control in defence PSU BEML.

List of Stocks In Focus Today: The government will sell up to 20 per cent stake in Indian Railway Catering and Tourism Corporation through an offer for sale

PM Modi in February had planned to raise as much as Rs 2.1 lakh crore selling state assets

Shares in Coal India closed 4 per cent weaker at 275.85 rupees on the National Stock Exchange on Tuesday.

Sale of a 10 per cent stake in Coal India is likely to be deferred to next fiscal year as the government wants to wait for stability in the equity markets for a better valuation.

The government's disinvestment kitty has almost doubled this year with over Rs 35,000 crore garnered through stake sales in PSUs, but not without the help of its all-time saviour Life Insurance Corporation (LIC), while a strong pipeline is ready for 2016 with blue chips like NTPC, Coal India and ONGC (Oil & Natural Gas Corporation).

Opposing an immediate stake sale in Coal India Ltd, foreign investors have told the Finance Ministry that further disinvestment in the coal miner should be put off as the current market valuation is low.

The stake sale, valued at about $3.2 billion at the current stock price, is part of government's aim to raise Rs 69,500 crore ($10.52 billion) by March by selling minority stakes in government-owned companies.

Coal and Power Minister Piyush Goyal told reporters today that government expects to raise around Rs 20,000 crore from the sale of 10 per cent stake in Coal India (CIL).

Eight investment banks including HSBC and India's ICICI Securities and SBI Capital have submitted bids to manage a 10-percent stake divestment in state-owned Coal India, IFR reported, citing a person close to the deal.

As challenges emerge in meeting the mammoth Rs 69,500-crore disinvestment target for this fiscal year, the government has said this is due to the global commodity slowdown as many identified PSUs are from this space.

The government has for the third time extended deadline for appointment of merchant bankers for the mega Rs 21,000-crore share sale in Coal India Ltd after global investment banks flagged concerns over the company allegedly not meeting green commitments.