NEW DELHI Aug 14 India plans to sell a 10
percent stake in state-owned Coal India Ltd, Power and
Coal Minister Piyush Goyal said on Thursday. This will make it
one of the many divestments proposed by the new government to
bolster its stressed finances.
The government owns 89.65 percent of the world's largest
coal producer and the stake sale should raise more than $3.6
billion on current equity value. Goyal did not give a timeline
for the stake sale.
The new government's first stake sale would be a 5 percent
divestment in Steel Authority of India Ltd this fiscal
year ending March 31, the finance ministry said last month.
Domestic roadshows for the SAIL sale would begin in the last
week of this month while two teams will visit Hong Kong,
Singapore, London, New York and Boston in the first week of
September for its international marketing, a senior steel
ministry official said. He dclined to be named.
(Reporting by Krishna N Das; Editing by Biju Dwarakanath)