Centre proposes to sell 3% stake in Coal India via OFS
COAL & MINING

Centre proposes to sell 3% stake in Coal India via OFS

The Centre has suggested using the offer for sale (OFS) method to sell up to 3% of its ownership stake in domestic miner Coal India (CIL) starting on June 1.

With the sale, the government hopes to raise about $4,1620 million. The share sale would help the Centre reach its 510,000 million disinvestment goal for 2023–2024. In the previous fiscal year, the Centre fell short of its disinvestment goal.

Since 2018, the sale of CIL's interest has been planned. However, the company's share price has fallen short of projections. In order to start the sale process, the government and CIL were aiming for the share price to rise slightly above Rs 220 per share.

Due to increased share demand in the most recent quarter, CIL was able to meet its production goal.

The plan from the Centre is for selling up to 1.5% of CIL's shares on June 1 and 2, with a green shoe option to sell an extra 1.5%. Currently, the Centre owns 66.13 percent of CIL. At Rs. 225 per share, the floor price has been established for the stake sale.

The Centre has suggested using the offer for sale (OFS) method to sell up to 3% of its ownership stake in domestic miner Coal India (CIL) starting on June 1. With the sale, the government hopes to raise about $4,1620 million. The share sale would help the Centre reach its 510,000 million disinvestment goal for 2023–2024. In the previous fiscal year, the Centre fell short of its disinvestment goal. Since 2018, the sale of CIL's interest has been planned. However, the company's share price has fallen short of projections. In order to start the sale process, the government and CIL were aiming for the share price to rise slightly above Rs 220 per share. Due to increased share demand in the most recent quarter, CIL was able to meet its production goal. The plan from the Centre is for selling up to 1.5% of CIL's shares on June 1 and 2, with a green shoe option to sell an extra 1.5%. Currently, the Centre owns 66.13 percent of CIL. At Rs. 225 per share, the floor price has been established for the stake sale.

Next Story
Resources

Ajmera Realty launches tree drive on Environment Day

Ajmera Realty & Infra India marked World Environment Day with a large-scale tree plantation initiative—Plant-with-Purpose—across its projects in Mumbai and Bangalore. The drive was inaugurated at Ajmera Manhattan and Ajmera Greenfinity in Wadala, with senior company officials and residents in attendance. The campaign encourages residents to embrace eco-conscious, self-reliant lifestyles by growing useful plants and trees within their communities. Horticulture expert Devendra Bhekar guided residents on creating and maintaining green spaces. Ajmera Realty planted over 500 trees..

Next Story
Resources

Twaron®-reinforced tyre powers Brunel’s solar race car

Teijin Aramid’s Twaron® with circular content will debut in Bridgestone’s race tyres for the 2025 Bridgestone World Solar Challenge, supporting the Brunel Solar Team’s Nuna 13 car. This marks the first use of the recycled-content aramid in a high-performance race tyre. The Twaron®-reinforced belts help enhance durability, reduce rolling resistance, and maintain lightweight strength—critical for the 3,000-km solar race across Australia. Bridgestone combines this with ENLITENTM tech and other recycled inputs to maximise environmental and performance outcomes. Teijin Aramid, a..

Next Story
Building Material

Kamdhenu Paints launches new wood coating range

Kamdhenu Paints has launched a comprehensive premium wood coating range designed for both interior and exterior applications. The collection includes high-performance solutions like Kamwood 2K PU for a rich matt or high-gloss finish, Kamwood 1K PU for clarity and stain protection, and the Kamwood Melamyne system for a smooth, durable finish. Also featured are Kamwood Wood Stains, which enhance wood grains with vibrant colour, and NC Sanding Sealer for high-build grain filling. The range is supported by Kamwood Thinners for ease of application and optimal finish. Saurabh Agarwal, MD, ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?