For Quick Alerts
For Daily Alerts

    Coal India Slides 4 per cent Ahead of Govt Stake Sale


    Shares in Coal India slumped 4 per cent ahead of the government's stake sale in the company. The stock was last trading at Rs 368, a drop of 4 per cent.

    The government will sell up to 10 per cent stake in Coal India Ltd through offer for sale on Friday and is expected to mop up around Rs 24,000 crore at current market price.

    Coal India Slides 4 per cent Ahead of Govt Stake Sale
    Coal India: Quotes, News
    BSE 243.10BSE Quote1.15 (-0.47%)
    NSE 242.90NSE Quote1.3 (-0.54%)
    "The (CIL share) sale shall...commence on January 30 and shall close on the same date at 3.30 pm," Coal India said in a stock exchange filing. The offer will have 20 per cent reservation for retail investors.

    The floor price for the stake sale would be announced today after the close of market hours. Coal India would be second company to hit the markets under the government's disinvestment programme. In December, government sold 5 per cent stake in SAIL to garner over Rs 1,700 crore.

    For the current fiscal, the government has budgeted to raise Rs 43,425 crore through disinvestment in PSUs.

    With inputs from PTI

    Read more about: coal india
    Story first published: Thursday, January 29, 2015, 11:46 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more