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Govt sells 2.21% stake in Coal India to CPSE ETF

Coal India accounts for over 80 per cent of domestic coal production

Press Trust of India  |  New Delhi 

Coal India, coal

The government has sold 2.21 per cent stake in state-owned to the which is managed by Reliance Nippon Life Asset Management Ltd, according to a regulatory filing.

"The of India, acting through the ..has sold 13,73,11,943 i.e. 2.21 per cent equity shares of Ltd to the AMC," (CIL) said in a filing to BSE Thursday.

accounts for over 80 per cent of domestic coal production.

"Post-acquisition holding of promoter is 72.92 per cent of equity share capital of the company," the filing said.

The company further said the "the off-market sale (is) by the of India through the ..to Reliance Nippon Life Asset Management Ltd, as the asset management company of the mutual fund scheme."

ALSO READ: ONGC, Coal India, NTPC among 22 stocks from BSE500 index hit 52-week lows

The government has garnered more than Rs 170 billion from the follow-on offer, the biggest-ever fundraising from an exchange-traded fund domestically.

First Published: Thu, December 06 2018. 19:00 IST
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