Coal India stake sale in offing: Govt may sell 5-10% equity in CIL, Hindustan Zinc, other PSUs via OFS
India plans to sell small stakes in state-run firms including the world’s biggest coal miner Coal India Ltd and Asia’s largest zinc producer Hindustan Zinc Ltd, to ride a stock market boom and boost revenue in the final quarter of the financial year, according to people familiar with the matter. The government is looking to sell 5%-10% in Coal India Ltd., Hindustan Zinc Ltd., Rashtriya Chemicals and Fertilizers Ltd. via the so-called offer-for-sale mechanism, the people said, asking not to be identified as the details aren’t yet public. In all, five firms could be chosen, including a listed entity under the railway ministry, they added.
