Home / Business and Economy / Coal India Stake Sale: Govt Aims for $531M Boost
Coal India Stake Sale: Govt Aims for $531M Boost
27 May
Summary
- Indian government plans to sell up to 2% stake in Coal India.
- The deal could raise $531 million for the government.
- Up to 123.25 million shares will be sold in the transaction.
The Indian government has announced plans to sell as much as a 2% stake in Coal India Ltd., the globe's leading coal producer. This move is anticipated to inject $531 million into state coffers.
The proposed sale involves up to 123.25 million shares, encompassing a greenshoe option, which allows for over-allotment if demand is high.
This strategic divestment is expected to be conducted through stock exchange mechanisms, offering investors an opportunity to acquire shares in a major public sector undertaking.
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