Coal India talks stake-sale with disinvestment secy
Coal India, after getting the necessary approval from the coal ministry, has begun discussions with the disinvestment department of the finance ministry to divest up to 10 per cent of government stake in the company.
By PTI |
NEW DELHI: Coal India, after getting the necessary approval from the coal ministry, has begun discussions with the disinvestment department of the finance ministry to divest up to 10 per cent of government stake in the company.
"We have had a very good discussion on setting a road map for disinvestment in Coal India," Coal India Chairman P S Bhattacharyya told PTI.
Bhattacharya met the disinvestment secretary, Sunil Mitra, on Wednesday to finalise the "5-10 per cent" equity dilution in Coal India.
The company has already received the coal ministry's nod to reduce the face value of its shares to Rs 10 from Rs 1,000 at present.
"The coal ministry has given us its approval to lower the face value of our shares from Rs 1,000 a share at present to Rs 10 per share," Bhattacharya said.
The navratna firm's equity base thus would be expanded to 631.6 crore shares from the current 6.316 crore shares. The company has a paid up equity capital of about Rs 6,300 crore.
"We have had a very good discussion on setting a road map for disinvestment in Coal India," Coal India Chairman P S Bhattacharyya told PTI.
Bhattacharya met the disinvestment secretary, Sunil Mitra, on Wednesday to finalise the "5-10 per cent" equity dilution in Coal India.
The company has already received the coal ministry's nod to reduce the face value of its shares to Rs 10 from Rs 1,000 at present.
"The coal ministry has given us its approval to lower the face value of our shares from Rs 1,000 a share at present to Rs 10 per share," Bhattacharya said.
The navratna firm's equity base thus would be expanded to 631.6 crore shares from the current 6.316 crore shares. The company has a paid up equity capital of about Rs 6,300 crore.
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