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Coal India eyes $1.25 bln IPO in a year - paper
MUMBAI |
MUMBAI (Reuters) - State-run miner Coal India Ltd plans to raise up to 60 billion rupees ($1.25 billion) by selling 10 percent through an initial public offer (IPO) expected within a year, the Business Standard reported on Thursday, citing unnamed sources.
The modalities of the IPO are being worked out and Coal India chairman has already met the federal disinvestment secretary, the paper said.
Coal India officials could not be immediately reached for comment.
On Wednesday, state-run utility NHPC Ltd's $1.25 billion IPO -- the first by a government firm in 18 months -- closed subscribed nearly 24 times. At least a dozen other state-run firms are lining up for share sales.
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