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Morgan Stanley Asia acquires 1.67 crore shares of Coal India for Rs 485 crore

01 Jan 2014 Evaluate

Morgan Stanley Asia (Singapore) has purchased 1.67 crore shares of state-owned Coal India from DB International Asia at an average of Rs 290.25 valuing the transaction at Rs 485.57 crore.

The Government of India holds 90% stake in the world’s largest coal producer; Foreign Institutional Investors own 5.51% and domestic institutional investors hold 2.34%.

Coal India, which accounts for over 80% of the domestic production, has set an output target of 482 million tonne for the current fiscal.

Peers
Company Name CMP
Coal India 424.35
NMDC 76.79
Ashapura Minechem 504.25
Sandur Manganese 182.25
GMDC 507.75
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