Coal India IPO to open on Oct 18
New Delhi: State-run Coal India Ltd’s initial public offering will begin on Oct. 18 and close on Oct. 21, the firm’s chairman Partha Bhattacharya told reporters on Tuesday.
State-owned Coal India Ltd (CIL), the country’s largest mining company. The company will offload around 630 million shares through a book building process. The issue is to be launched on October 18 and to close on October 21.
CIL alone accounts for over 80 per cent of the country’s coal output. It had produced 431 million tonnes in 2009-10. The Union government has set a target of raising around Rs 40,000 crore by selling stakes in state-owned companies by the end of the current financial year to fund social welfare and infrastructure projects.
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