CIL to conduct non-deal road show on further divestment

State-owned CIL on Tuesday said DIPAM will organise a non-deal road show this week in Mumbai for further divestment of its shares by the Centre.

A non-deal road show happens when executives hold deliberations with current and potential investors, but no equity or debt securities are offered.

The government had last year sold 3.18 per cent stake in Coal India.

"DIPAM is organising a Domestic Non Deal Road show on October 3-4, 2019 in Mumbai for further divestment of shares of Coal India by Government of India," Coal India (CIL) said in a filing to BSE.

In 2015, the government had sold 10 per cent stake in CIL through an OFS. It had then collected up about Rs 23,000 crore.

Coal India, which accounts for over 80 per cent of the domestic coal output, is targeting more than 8 per cent growth in production at 660 million tonne in 2019-20 compared to 607 million tonne in the last fiscal.

The PSU closed 2018-19 with a coal production of 606.88 million tonne, against the target of 610 million tonne.