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Web Exclusive | October 2013

Decision on CIL's 5% divestment in 2 months

Coal India (CIL) divestment is likely to be finalised in the next one-two months, says Union Coal Minister Prakash Jaiswal. The Minister said the Cabinet will take a final call on divesting 5 per cent stake in the world’s largest coal producer. After the government raised Rs 15,199 crore CIL was listed on the bourses in 2010 by selling 10 percent stake in the country's biggest initial public offering. The five percent dilution will fetch nearly Rs 10,000 crore to government exchequer. The Union government currently holds 90 per cent stake in the world's largest coal producer CIL. CIL intends to sell 31.6 lakh shares via follow-on pubilc offer. Meanwhile, a section of the trade unions have been opposing government’s decision to further divest stake in the company.
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