Coal India To Conduct Non-Deal Roadshow On Further Divestment
A worker collects coal by hand at a coal wholesale market in India. (Photographer: Dhiraj Singh/Bloomberg)

Coal India To Conduct Non-Deal Roadshow On Further Divestment

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State-owned Coal India Ltd. on Tuesday said Department of Investment and Public Asset Management, will organise a non-deal roadshow this week in Mumbai for further divestment of its shares by the Centre.

A non-deal roadshow happens when executives hold deliberations with current and potential investors, but no equity or debt securities are offered.

The government had last year sold 3.18 percent stake in Coal India.

"DIPAM is organising a Domestic Non Deal Road show on Oct. 3-4, 2019 in Mumbai for further divestment of shares of Coal India by Government of India," Coal India said in a filing to BSE.

In 2015, the government had sold 10 percent stake in CIL through an Offer For Sale . It had then collected up about Rs 23,000 crore.

Coal India, which accounts for over 80 percent of the domestic coal output, is targeting more than 8 percent growth in production at 660 million tonne in 2019-20 compared to 607 million tonne in the last fiscal.

The PSU closed 2018-19 with a coal production of 606.88 million tonne, against the target of 610 million tonne.

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