The government is planning to offload 10 per cent stake in Coal India in FY16 through a public offer, which could fetch around Rs 22,000 crore to the exchequer. In this regard, the department of Disinvestment (DoD) is in the process of appointing merchant bankers for managing the sale.
The government will appoint up to five merchant bankers to manage the sale, and the last date for applications is September 2. The government holds 78.65 per cent in the company.
Coal India is the world’s largest coal mining company. It also produces non-coking coal and coking coal of various grades for diverse applications.
