Coal India Looks To Raise Rs 64 Crore From CIL Stake Sale To Staff


Coal India Looks To Raise Rs 64 Crore From CIL Stake Sale To Staff

The Centre hopes to raise at least Rs 64 crore from Coal India employees through a separate 0.5% stake sale that would be hit the market during second week of November.

It has decided to separately offer this equity chunk to Coal India employees at a discount of 5% over final discovered price of the offer for sale that is currently on.

On Tuesday, the government announced 3% stake sale in Coal India and a green shoe option of another 6% at a base price of Rs 266 per share. The offer for sale was executed for institutional investors on Wednesday and would be held for both retail and institutional investors on Thursday. Read more

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