Inter-Ministerial Group approved 10% Equity Sale in Coal India Limited
Sale of 10 percent equity of the Coal India Limited was approved by the Inter-Ministerial Group headed by Ravi Mathur, the Disinvestment Secretary.
An Inter-Ministerial Group (IMG) on 10 May 2013 approved 10 percent equity sale of Coal India Limited. This equity sale is likely to fetch, about 17000 crore rupees to the Union Government. Union Governments holds over 90 percent stake in Coal India at present.
The Inter-Ministerial Group was headed by Ravi Mathur, the Disinvestment Secretary and it is guiding the process of disinvestment of Governments Equity in CIL. The CIL with a cash balance of 60000 crore rupees is the biggest disinvestment for the Government in the current fiscal year 2013-14 and Union Government is in the plan to generate 40000 crore rupees with sales of PSUs stakes in the current fiscal.