Coal India IPO likely to hit markets by November 2010

December 3, 2009: Soon investors will get to own a slice of India's largest coal mining company. Coal India its initial public offering will hit markets in November or December 2010.

And it's likely that the 10 percent stake that the government will sell in the market is all that investors will get to pick up.

The government has already announced its plans of diluting 10 percent stake in unlisted companies; and Coal India is in the list.

In fact, Coal India is all set for an action packed financial year 10-11, apart from the IPO, the coal major is looking for joint ventures in places like Australia, Indonesia, USA and South Africa.

With an investment of $ 1 billion to $1.5 billion for these Joint Ventures, Coal India's focus is to stabilize coal supply in India.

"Our focus is to invest our funds in acquiring assets that deliver energy to our country and at the same time in a viable manner", said P Bhattacharya, chairman, CIL.

Source: Economic Times