India's largest ever public offer from Coal India Ltd to raise up to Rs 15,000 crore (Rs 150 billion) will hit the stock markets by the third week of October.
The government is divesting 10 per cent of its stake in Coal India Ltd (CIL), the world's largest coal miner, through the IPO.
The CIL initial public offer will open on October 18 and close on October 21. Although CIL's IPO was planned in August-September, it was delayed due to opposition to the government's 10 per cent stake sale move from trade unions and political parties.
"The department of divestment has finalised the issue date. The company will now file the Draft Red Herring Prospectus of the IPO by the first week of August," the source added.
The government is divesting 10 per cent of its stake in Coal India Ltd (CIL), the world's largest coal miner, through the IPO.
The CIL initial public offer will open on October 18 and close on October 21. Although CIL's IPO was planned in August-September, it was delayed due to opposition to the government's 10 per cent stake sale move from trade unions and political parties.
"The department of divestment has finalised the issue date. The company will now file the Draft Red Herring Prospectus of the IPO by the first week of August," the source added.