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Foreign Investors Ask Govt To Defer CIL Stake Sale: Reports

By Religare

Foreign investors have told the Finance Ministry that further disinvestment in the CIL should be put off as the current market valuation is low, said the media reports.

Commenting on the issue, a Government Official told the media, "Foreign investors such as Fidelity, Wellington Management and BlackRock have also conveyed that they might look at selling their holding in Coal India since the share price could plummet further in case the disinvestment happens soon."

Foreign Investors Ask Govt To Defer CIL Stake Sale: Reports
"Long-term investors have clearly told the Disinvestment Department that stake sale should not happen now as valuations are very low. They have said they will not invest and rather sell their current investments if government proceeds with stake sale," he added.

As per reports, the Cabinet had last month approved a 10 per cent disinvestment in Coal India, which could raise about Rs 20,000 crore at the current market prices.

The Department of Disinvestment (DoD) is also of the view that current market situation is not favorable to a major stake sale like that of Coal India.

Read more about: coal india
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