No benefit for trade union workers in Coal India IPO: Minister
Coal workers had a golden opportunity to profit from Coal India's over Rs 15,000-crore IPO. But because of politics by trade unions, they failed to benefit from the issue.
By PTI |
BILASPUR: Union Minister of State for Coal Sriprakash Jaiswal today said due to politics of trade unions the workers have not benefited from the mega initial public offering (IPO) of public sector major Coal India.
Coal workers had a golden opportunity to profit from Coal India's over Rs 15,000-crore IPO. But because of politics by trade unions, they failed to benefit from the issue, he said here, last evening.
After the IPO was listed, its price shot up by Rs 100 and this could have been a Diwali gift for the workers, Jaiswal said.
To a question, the minister said Coal India's annual turnover was Rs 52,000 crore and its balance sheet is not going to be affected by the Rs 765-crore debt to public sector units.
Effective steps will be taken to curb accidents in coal mines, he said.
Coal workers had a golden opportunity to profit from Coal India's over Rs 15,000-crore IPO. But because of politics by trade unions, they failed to benefit from the issue, he said here, last evening.
After the IPO was listed, its price shot up by Rs 100 and this could have been a Diwali gift for the workers, Jaiswal said.
To a question, the minister said Coal India's annual turnover was Rs 52,000 crore and its balance sheet is not going to be affected by the Rs 765-crore debt to public sector units.
Effective steps will be taken to curb accidents in coal mines, he said.
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