Government has offloaded 2.91 per cent stake in Coal India through the sixth further fund offer of CPSE ETF Mutual Fund scheme. The government’s stake in the mining major has now come down to 66.14 per cent compared with 69.05 per cent.
The exchange traded fund (CPSE ETF), through which the central government dilutes stake in PSUs, opened its latest offering on January 30, 2020 with 12 stocks - of Coal India, NTPC, ONGC and Power Grid accounted for 79.5 per cent.
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.
