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.

Do you know What is Repo Linked Lending Rate (RLLR), Wholesale Price Index (WPI), Public Debt, Finance Commission Grants & Other Transfers, Economic Survey? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.