The Union Cabinet gave its approval for the Government to sell 10 % of its stake in Coal India. The stake sale will bring down the
Government’s holding to 69.65 % from 79.65 % currently.
The timing of the Coal India stake sale will be decided by the Finance
Minister, Piyush Goyal, Minister of State (Independent Charge) for
Power, Coal and New & Renewable Energy said after the cabinet
meeting on Wednesday.
At Wednesday’s closing share price of ₹ 333.75, the sale will fetch the
Government a little over ₹ 21,000 crore.
This would be less than the
₹22,557 crore mop-up from the last time the Government sold a 10 per
cent stake in Coal India on January 31, 2015.
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