Coal India may meet 35% public holding target by fiscal end

Thanks to its public issues and stake sales through the ETF route, Coal India (CIL) is poised to meet its target of 35% public holding after imminent sale of an another 1.14% stake from the present government holding of 66.14%. A CIL official said the company will shortly make another tranche of offer to reach the proposed 35% public holding level for listed companies. Since April last year, the Centre has offloaded 4.82% stake in the company and has raised around Rs 5,700 crore. The last tranche of the offer was made last week through a CPSE exchange-traded fund, wherein the Centre sold 179.57 million shares and raised around Rs 3,300 crore. The shares were priced at Rs 177.9 per share, the official said.