“The Centre expects to net around Rs 1,000 crore from EIL stake sale and in excess of Rs 5,000 crore from CIL,” she added. The cabinet approval has been received, she said. However, in case of CIL, there is a possibility of one per cent additional disinvestment exclusively meant for CIL employees. Both EIL and CIL IPOs are likely to hit the market latest by early August.
Next in the pipeline are Hindustan Copper Ltd and SAIL. While the Centre will divest its 5 per cent stake in SAIL, the latter will raise 5 per cent equity from the market and together, the total proceeds will be in the region of around Rs 10,000 crore.
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