News Brief | November 2014
CIL divestment after Diwali
According to Financial Markets Joint Secretary Manoj Joshi, the government is likely to begin its Rs 43,425-crore divestment programme with the sale of 10 per cent stake in Coal India post-Diwali. The sale is expected to raise around Rs 23,000 crore. The government at present holds 89.65 per cent stake in CIL.
It expects to sell 10 per cent stake in the company. The Cabinet Committee on Economic Affairs (CCEA) has approved the disinvestment department's proposal to offload 10 per cent stake in CIL through Offer For Sale (OFS) route.