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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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Thursday, 28 April 11
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After consecutive falls, the dry bulk freight market, as followed through the Baltic Dry Index, finally caught a breather yesterday, with the BDI ma ...


Wednesday, 27 April 11
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Wednesday, 27 April 11
HARUM ENERGY TO PAY RP 659.1B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miner Harum Energy is planning to pay out Rp 659.1 billion (US$76.46 million) in dividends this year ...


Wednesday, 27 April 11
TSIS $5 MILLION PLANT TO START PRODUCING UPGRADED COAL - THE JAKARTA POST
The Jakartapost reported that, PT Total Sinergy International (TSI), in association with Agritrade Resources Limited of Hong Kong, will upgrade its ...


Wednesday, 27 April 11
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