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Coal India to convert redeemable preference shares held in BCCL into equity

20 Mar 2020 Evaluate
Coal India has received approval from its Board of Director for converting Rs 2,539 crore-worth redeemable preference shares held in its subsidiary Bharat Coking Coal (BCCL) into equity shares. Pursuant to the conversion, the company would get a total dividend of Rs 888.65 crore over a two-year period.

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.

Peers
Company Name CMP
Coal India 389.45
NMDC 67.21
Ashapura Minechem 409.00
Sandur Manganese 162.00
GMDC 412.20
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