Coal India stake sale fetches over Rs 3,200 crore
KOLKATA: The government sold nearly 2.91% stake in Coal IndiaNSE -1.83 % Limited (CIL) last week and raised more than Rs 3,200 crore in a subdued stock market. Since April last year, the Centre has pared around 4.82% in the state-owned company, raising about Rs 5,700 crore in this financial year.
Currently, the government’s stake stands at 66.14%. It has to reduce its holding by another 1.14% to cut its stake to the minimum public holding limit of 35% in listed firms.
