“The company wants to offer a chunk of shares in the market so that there is an adequate floating stock for trading,” a Coal Ministry official said, adding that it would be only through enough offering that Coal India Limited would be able to discover its valuation.
The official said the CIL’s initial public offering of about 15 per cent would be done in one go and not in bits and pieces. While the officials did not specify any time-frame on the IPO, the company and the ministry is in touch with market regulator Securities Exchange Board of India (Sebi) on the proposal.
Published 02 September 2009, 15:19 IST