Coal India eyes up to Rs 15,400-cr through IPO, overseas buys
The company is looking at high-value coal mines in the US and it will enhance its investment limit later, he said.
By PTI |
MUMBAI: Coal India Ltd ( CIL) which is raising around Rs 15,400-crore through the largest-ever initial public offer ( IPO) here, today said it will invest Rs 6,000-crore (USD 1.2-billion) for acquisitions abroad.
"We are looking at acquisitions in the US, Australia and South Africa, for which we will invest Rs 6,000-crore (USD 1.2-billion) this fiscal," its Chairman, Partha Bhattacharyya, told reporters here.
The company is looking at high-value coal mines in the US and it will enhance its investment limit later, he said.
"We will go for washing of coal in a big way. Margin growth will be the dominant focus," he added.
Coal India is entering the capital market on October 18, with a public offer of 631,636,440 shares of Rs 10 each through an offer for sale by the Government at a price-band ranging between Rs 225-245 per equity share. Retail investors and employees will be offered a 5 per cent discount.
Coal India will raise between Rs 14,200-crore and Rs 15,400-crore. After the discount, the amount aggregates to Rs 13,909-crore and Rs 15,151-crore.
Coal India is the largest coal producer with raw coal production of 431.26-million tonnes in fiscal 2010. It is also the largest reserve-holder in the world.
Asked about the company's future outlook, Bhattacharyya said "we expect a 15-16 per cent topline growth in the next two-years."
"We are looking at acquisitions in the US, Australia and South Africa, for which we will invest Rs 6,000-crore (USD 1.2-billion) this fiscal," its Chairman, Partha Bhattacharyya, told reporters here.
The company is looking at high-value coal mines in the US and it will enhance its investment limit later, he said.
"We will go for washing of coal in a big way. Margin growth will be the dominant focus," he added.
Coal India is entering the capital market on October 18, with a public offer of 631,636,440 shares of Rs 10 each through an offer for sale by the Government at a price-band ranging between Rs 225-245 per equity share. Retail investors and employees will be offered a 5 per cent discount.
Coal India will raise between Rs 14,200-crore and Rs 15,400-crore. After the discount, the amount aggregates to Rs 13,909-crore and Rs 15,151-crore.
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Coal India is the largest coal producer with raw coal production of 431.26-million tonnes in fiscal 2010. It is also the largest reserve-holder in the world.
Asked about the company's future outlook, Bhattacharyya said "we expect a 15-16 per cent topline growth in the next two-years."
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