Press Esc to close
Tuesday 01 September 2015
News updated at 12:26 PM IST
Weather
Max: 29.4°C
Min : 21.1°C
In Bengaluru
Sunny day

Divestment: Govt expects Rs 21k cr from Coal India

New Delhi, March 17, 2013, DHNS:

Sale to commence early next fiscal

A labourer loads coal onto a truck in a coal yard. REUTERS

Riding on the crest of its successful PSU disinvestment this year, the government is planning to begin the divestment process early for the next fiscal and may hit the market with the big ticket divestment of Coal India through which it is expected to garner over Rs 21,000 crore.

 The finance ministry has moved a cabinet proposal to this effect. A 10 per cent sale in Coal India, which is valued at Rs 2,14,219 crore, is likely to fetch about Rs 21,421 crore to the exchequer.

According to a finance ministry official, a clear picture on the share sale will emerge early next month. The government is proposing to sell its stake through offer for sale route.

 The government currently holds 90 per cent stake in Coal India, country’s largest coal miner.

The stake sale may be done in tranches. The Empowered Group of Ministers headed by Finance Minister P Chidambaram will decide on whether the divestment will take place in tranches.

 Next year’s divestment target has been fixed at Rs 40,000 crore or Rs 16,000 crore more than the current year’s revised target.

 This year too, the government has garnered close to Rs 22,000 crore through divestment of its shares in PSUs, although the divestment process began as late as in the second half of the current fiscal year, when Chidambaram took over the finance ministry.

 Apart from Coal India, two big ticket companies, India Oil Corp and NHPC, are also expected to go under the hammer. But, Coal India is eagerly awaited as this alone is expected to take the government half way through the divestment target set for next year. , the official said.

IOC, India’s largest fuel retailer is expected to fetch the government above Rs 7,000 crore, if the government plans to divest 10 per cent.


Go to Top

Photo Gallery
Eunuchs carry wheat saplings on their heads during a procession taken out to celebrate Bhujaria  ...

Eunuchs carry wheat saplings on their heads during a procession taken out to celebrate Bhujaria ...

Local members of Shiv Sena and Dogra Front carrying onions to mark protest against price hike of ...

Local members of Shiv Sena and Dogra Front carrying onions to mark protest against price hike of ...

Kannada actor Shivarajkumar and Geetha daughter Nirupama with Dileep weeding at Tripuravasini  ...

Kannada actor Shivarajkumar and Geetha daughter Nirupama with Dileep weeding at Tripuravasini ...

Members of Yuva Bharath organisation launch a postcard campaign demanding conduct of Dasara in a ...

Members of Yuva Bharath organisation launch a postcard campaign demanding conduct of Dasara in a ...

Rayat panel supporters celeberate the win in the Agricultural Produce Market Committee (APMC) ...

Rayat panel supporters celeberate the win in the Agricultural Produce Market Committee (APMC) ...

A large number of Karnataka Association of Resident Doctors (KARD) members staged protest ...

A large number of Karnataka Association of Resident Doctors (KARD) members staged protest ...

Bollywood Actors Anil Kapoor, John Abraham and Shruti Haasan during promotion of their upcoming ...

Bollywood Actors Anil Kapoor, John Abraham and Shruti Haasan during promotion of their upcoming ...

President Pranab Mukherjee speaking to contributors to the book- '30 Women in Power: Their Voice ...

President Pranab Mukherjee speaking to contributors to the book- '30 Women in Power: Their Voice ...

AIMIM President Asaduddin Owaisi along with others offering tribute to former AIMIM president ...

AIMIM President Asaduddin Owaisi along with others offering tribute to former AIMIM president ...

Police personnel sitting near the charred remains of a motorcyle near the violence-hit Trahi ...

Police personnel sitting near the charred remains of a motorcyle near the violence-hit Trahi ...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523