In a bid to divest 5% stake in Coal India, Government of India will start divestment roadshows on October 21, 2013 and the 10 days roadshows will end on October 31, 2013. The roadshows will be held in Boston, New York, Chicago, San Francisco and London. The government is likely to fetch around Rs 9,000 crore from the said divestment.
The government has selected seven merchant bankers for the stake sale -- Goldman Sachs, Credit Suisse, Deutsche Bank, SBI Capital Markets, Kotak Mahindra Capital, JM Financial and Merrill Lynch.
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.
