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Sunday, 18 April 10
GOVT FORMS PANEL FOR RS 12,000-CR (US$ 2.711 BILLION) COAL INDIA IPO - ECONOMIC TIMES


Economic Times reported that, the government has formed an inter-ministerial panel to carry forward the proposed Rs 12,000-crore (US$ 2.711 billion) disinvestment programme of Coal India, which expects to launch the public offer by July-August this year.

"An Inter-Ministerial Group, comprising Coal Secretary, Disinvestment Secretary and eight other officials from different ministries, has been formed. It was notified on Friday," a person in the know of the development said.

The panel would be responsible for selecting book runners-cum-lead managers (BRLMs) to manage the initial public offer (IPO) of the country's largest coal producer and would decide about pricing and timing of the issue, among others.

Paving the way for smooth sail of IPO, the coal giant, on Friday last week, took its trade unions on board for disinvestment plan, which is expected to be cleared by the Cabinet by thismonth-end or early May, a senior Coal Ministry official said. The unions were opposed to the sell off.

The proposed share sale in CIL is part of the government broad disinvestment plan which aims to raise around Rs 40,000 crore (US$ 9.039 billion) through partial stake sales in PSUs like SAIL, Coal India and Engineers India Ltd in the current fiscal. (1 USD = 44.2500 INR) Red more
Economic Times



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Wednesday, 20 July 11
DRY BULK MARKET KEEPS ON FALLING ON SOFTENING CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated to lower ground on Tuesday, as the industry’s benchmark, the BDI (Baltic Dry Index) fell to 1,330 points, down b ...


Tuesday, 19 July 11
82 MIO TONS OF COAL TO BE SUPPLIED FOR DOMESTIC MARKET
Indonesian Coal miners were required to supply 82 million tons of coal to Domestic market in this year. This is a 2.53 percent higher than last year ...


Monday, 18 July 11
IMFA BUYS A INDONESIAN COAL MINE FOR USD 8.7 M
Indian Metals and Ferro Alloys (IMFA), the largest producer of ferro chrome in the country, today said it has acquired 70 per cent stake in an Indones ...


Sunday, 17 July 11
THE COAL PRICES ARE SOFTENING DUE TO LESS DEMAND - VISTAAR
COALspot.com: The markets were down last week with BDI down by 6.63 points and closing at 1,353 points. The most affected was Cape index which was d ...


Friday, 15 July 11
DRY BULK MARKET SUFFERS NEW BLOW, RETREATS EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell even lower yesterday on the back of lower demand for larger vessels, like Capesizes and Panamaxes. The industry’s ben ...


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