CIL IPO likely by October: DPE Secretary
The initial public offer of Coal India (CIL), from which the government expects to rake in about Rs 12,000 crore, would hit the market by October, a senior government official today said.
"I am hoping the CIL initial public offer (IPO) to be launched by September-October," Department of Public Enterprises (DPE) Secretary Bhaskar Chatterjee told reporters here.
The government will meet the target of raising Rs 40,000 crore this fiscal from the disinvestment of PSUs, including Coal India, he said on the sidelines of a function to sign a pact for public sector enterprises management between India and Slovenia.
Earlier, Coal Minister Sriprakash Jaiswal had said that the IPO could be launched in September-October if market conditions are conducive.
Recently, the Union Cabinet had decided to disinvest 10 per cent holding in CIL, the world's largest coal producer. The Centre holds 100 per cent equity in the company.
The government aims to raise Rs 40,000 crore through disinvestment this fiscal. So far, divestment in Satluj Jal Vidyut Nigam has fetched the exchequer over Rs 1,000 crore.
The government is likely to sell its stake in 10 PSUs, including MMTC, SAIL and Hindustan Copper, this fiscal.
During the last fiscal, it had raised Rs 25,000 crore through stake sale in Oil India, NMDC, REC and NTPC.