The government today said it will divest up to 15 per cent stake in state-run Coal India Ltd in next six months. The Coal Minister Mr.Sriprakash Jaiswal told reporters in New Delhi that the process is on to divest up to 15 per cent stake in Coal India. The government, at present, holds 100 per cent stake in the country's largest coal producer. CIL chairman Partha S Bhattacharyya had said last week that the government may divest only 10 per cent stake in the PSU in the next fiscal, against the desired 15 per cent, as regulatory provisions barred it from reserving some shares for employees.A delegation comprising officials from CIL, Coal Ministry and Department of Disinvestment are expected to meet SEBI this month to take forward disinvestment in the firm.
News On AIR | February 2, 2010 6:18 PM
Coal India to divest 15% stake in next six months