Kolkata: Coal IndiaNSE -3.66 % could contribute at least 9% to the government’s Rs 1,05,000 crore revised divestment receipt target if it has to adhere to the revised proposal for minimum public shareholding of 35% for a listed company.
The present minimum shareholding for a listed company is 25% and the budget proposes to increase it to 35%. At present public holding in the dry fuel company is 29.04% while the government holds 70.96%. To adhere to the new norm the centre has to reduce its stake by another 5.96% in the company. This would require offloading 36.73 crore shares of the company to the general public. At today’s opening price, of Rs 253.55 per share at the Bombay Stock Exchange, this could easily fetch the government at least Rs 9,312 crore.
