Centre proposes to sell 3% stake in Coal India via OFS, eyes Rs 4,162 cr
The Centre has proposed to sell up to 3 per cent of its stake in national miner Coal India (CIL) through the offer for sale (OFS) route from June 1.
The government is looking to garner around Rs 4,162 crore through the sale process. The stake sale would contribute to the Centre’s disinvestment target for 2023-24, pegged at Rs 51,000 crore. The Centre missed its disinvestment target in the last fiscal year.
The stake sale in CIL has been in the offing since 2018. But the share price of the company has been below expectations. The government and the CIL were hoping for the share price to inch above Rs 220 a share to initiate a sale process.
