KOLKATA: State-owned Coal India Ltd has engaged large fund managers for its coming IPO which is likely to hit the market within a year, company Chairman Partha S Bhattacharyya said today.
"CIL has engaged large fund managers for its Initial Public Offering which is likely to take place within a year," he said speaking at the Coal India's foundation day programme here.
Bhattacharyya said according to the fund managers, this would be one of the largest issue in the Indian stock exchange.
He said that CIL has emphasised the need for issuing preferential shares to the land-losers. Apart from this, it also planned to offer stock options to its over four lakh employees besides considering a proposal to issue shares to its former employees.
CIL which had received Navratna status last year was scheduled to get listed in the bourses within a three year period.
Turning to coal imports, he said that coal import was increasing by 20 per cent annually. Import of coal was necessary since CIL could not meet the entire demand supply gap of coal.
Source : The Economic Times