IPO of Coal India expected by AugustFebruary 20th, 2010 - 1:35 pm ICT by IANS
Kolkata, Feb 20 (IANS) Coal India Ltd (CIL) is expected to come out with its Initial Public Offer (IPO) of shares by August, a company official said.
“We discussed the tentative timeline with SEBI (Securities and Exchange Board of India) Friday,” Coal India Chairman Partha S. Bhattacharyya said Friday after meeting SEBI officials in Mumbai.
He said the Draft Red Herring Prospectus would be filed by June. The issue of giving shares to staff was also discussed and resolved at the meeting.
City-based CIL had earlier said SEBI has objected giving shares to staff employed in a subsidiary.
CIL is a holding company and most of its staff, including all its mining personnel, are in the payroll of eight subsidiaries, which also own the coal mines.
CIL’s IPO would consist of divestment of 10 percent stake of the government, which now holds 100 percent in the coal mining major.
- Coal India plans to earmark 1 percent share for staff - Feb 09, 2010
- Coal India IPO likely between Oct 18-21 - Jul 31, 2010
- Coal India to hit capital markets in July - Mar 19, 2010
- Coal India to decide on anchor investor in two-three days - Aug 13, 2010
- Employees quota in Coal India IPO will remain unsubscribed - Oct 18, 2010
- Coal India IPO subscribed 34 percent, employee quota may go abegging (Lead) - Oct 18, 2010
- Shipping Corporation expects to file DRHP this quarter - Oct 06, 2010
- BHEL FPO on hold, profit rises 14.3 percent in 2011-12 - Apr 03, 2012
- Coal India union leaders to meet PM soon on IPO - Apr 23, 2010
- West Bengal takes steps to revive MAMC - Jan 31, 2012
- Coal India to invest Rs.40,000 crore in 12th Plan - Sep 12, 2012
- Government to divest 10 percent in Coal India: Chairman - Jan 07, 2010
- Coal India's net profit rises 29 percent - Nov 23, 2010
- CIL production up, but profit before tax declines - Oct 06, 2009
- TCG Lifesciences to foray into bio-tech medicine - Feb 16, 2012
Tags: bhattacharyya, cil, coal india ltd, coal mines, coal mining, divestment, exchange board, holding company, initial public offer, ipo, kolkata, meeting city, mumbai, partha, payroll, prospectus, red herring, securities and exchange, securities and exchange board of india, tentative timeline