Coal India Ltd IPO-(initial public offer) hit the market

coal india ipo

Coal India Ltd IPO-(initial public offer) is hit the market in the second week of August.The government holds 100 percent of stakes in company and plans to sell 10 percent of its share (631.63 million shares) each Rs.10.The Indian government will raise Rs 12,000 cr from the disinvestment through the IPO.

For more details click Coal India IPO

Coal India Limited(CLI) is wholly own by the Indian government and company was set up in 1956. “The main activities of Coal India involves manufacturing and mining of coal. At present the Coal India has five subsidiaries with the main headquarter in- Kolkata West Bengal”. CLI Produce over 403-MT in FYE Mar 2009 .

‘CIL’ supply around 85% of coal production in India, it is the largest company in the World in coal production. Coal India Limited employs nearly 4 Lakh persons and having a won Community website http://coalindia.org for employees.

Six banks have been short listed for the initial public offer(IPO). The banks include Citibank, Morgan Stanley, DSP Merill Lynch, Kotak Mahindra, Enam Securities and Deutsche Bank.

More update will come later…….

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