Further share sale in Coal India possible: Finmin official

By: |
New Delhi | Published: April 13, 2015 11:46:30 AM

Another tranche of share sale in state-run miner Coal India Ltd, the largest coal producer in the world...

Coal India, Coal India share, Coal India share sale, Coal India stake, finance ministry on coal india, Finmin official on caol india, coal india latest, economy newsThe government still needs to sell about just over percent of its stake in Coal India to bring down its holding to 75 percent in listed state-run companies, as stipulated the market regulator. (Reuters)

Another tranche of share sale in state-run miner Coal India Ltd, the largest coal producer in the world, is “not ruled out”, a finance ministry official told CNBC-TV18 television channel on Monday.

Aradhana Johri, divestment secretary at the ministry, did not specify any time-frame for the share sale in the company, which is nearly 80 percent owned by the government.

The government still needs to sell about just over percent of its stake in Coal India to bring down its holding to 75 percent in listed state-run companies, as stipulated the market regulator.

In January, New Delhi raised about $3.6 billion by selling a 10 percent stake in the miner, the largest-ever equity deal in the local market.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition