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Thursday, 03 December 09
COAL INDIA IPO LIKELY TO HIT MARKETS BY NOVEMBER 2010


Soon investors will get to own a slice of India's largest coal mining company. Coal India its initial public offering will hit markets in November or December 2010.

And it's likely that the 10% stake that the government will sell in the market is all that investors will get to pick up. 

The government has already announced its plans of diluting 10% stake in unlisted companies; and Coal India is in the list.

In fact, Coal India is all set for an action packed FY 10-11, apart from the IPO, the coal major is looking for joint ventures in places like Australia, Indonesia, USA and South Africa.

With an investment of $ 1 billion to $1.5 billion for these Joint Ventures, Coal India’s focus is to stabilize coal supply in India.

“Our focus is to invest our funds in acquiring assets that deliver energy to our country and at the same time in a viable manner”, Mr P Bhattacharya, chairman, CIL told ET Now.

Source: Economic Times



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Recent News

Wednesday, 09 December 09
INDONESIA'S RECAPITAL TO PAY $1.48 BLN FOR BERAU
Recapital Advisors, an Indonesian investment firm, will pay $1.48 billion in cash and notes to buy coal miner PT Berau Coal, $300 million of which i ...


Wednesday, 09 December 09
COAL INDIA YET TO IMPLEMENT IMPORT LINKED PRICES
Coal India Ltd is adopting a conservative approach in pricing despite being allowed to charge import-linked price for the country's minuscule reser ...


Wednesday, 09 December 09
INDIA NEEDS TO IMPORT 29 MILLION TONNE STEAM COAL IN 2009 - 10
Mr Sriprakash Jaiswal Indian minister of state (Independent Charge) for coal informed the Rajya Sabha that Central Electricity Authority has estimat ...


Tuesday, 08 December 09
VOLATILE COAL PRICES SPUR ASIAN HEDGING
Volatile coal prices are forcing staid Asian power firms to change the way they buy fuel, setting the scene for a hedging boom as a growing array of ...


Tuesday, 08 December 09
MEC TO SHIP 2M T INDONESIA COAL TO INDIA IN 2010 - REUTER'S INTERVIEW
The UAE's Middle East Coal plans to start operation of coal mines in Indonesia's East Kalimantan province next year with initial production of 2 m ...


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