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Thursday, 03 December 09
COAL INDIA IPO LIKELY TO HIT MARKETS BY NOVEMBER 2010


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% 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% stake in unlisted companies; and Coal India is in the list.

In fact, Coal India is all set for an action packed FY 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”, Mr P Bhattacharya, chairman, CIL told ET Now.

Source: Economic Times



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Recent News

Wednesday, 30 December 09
CHINA'S 2010 COAL DEMAND COULD RISE 4%-6%, ACCORDING TO CHINA SECURITIES JOURNAL
China, which is the world’s second-largest energy user, may consume between 4 and 6% more coal next year on continued economic growth, China S ...


Tuesday, 29 December 09
PROFIT IN COAL INDUSTRY DOWN 9.4% Y-O-Y IN JAN.- NOV.
In November, China's coal production was 289mln tons, up 26.3% year on year, an increase of 5.2% over last month. China's average daily trucks loa ...


Tuesday, 29 December 09
DHARMA HENWA EYES 20% REVENUE GROWTH
Local integrated mining services provider PT Dharma Henwa, which was earlier this year acquired by coal mining giant PT Bumi Resources, expects reve ...


Monday, 28 December 09
NEED TO IMPORT COAL COMES EARLY
Viet Nam may need to start importing coal as early as 2012, three years earlier than expected, to meet its electricity demands. The Viet Nam Coal ...


Monday, 28 December 09
GOVT EYES $3.57B MINING, GEOTHERMAL INVESTMENT
The country can expect up to US$3.57 billion in investment in mining and geothermal energy next year, which would represent an increase by more than ...


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