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Markets | CIL IPO to be India’s biggest at $2.9 billion

Markets | CIL IPO to be India’s biggest at $2.9 billion
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First Published: Mon, Apr 19 2010. 11 56 PM IST
Updated: Mon, Apr 19 2010. 11 56 PM IST
New Delhi: The government plans to raise as much as $2.9 billion (around Rs13,000 crore) by selling shares in Coal India Ltd (CIL), in the country’s biggest initial public offering (IPO), two government officials with direct knowledge of the plan said.
CIL plans to file share-sale documents in June, with the IPO likely in July, said the officials, who declined to be identified pending Cabinet approval.
A sale of shares in Steel Authority of India Ltd will follow in August or September, one of the officials said.
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First Published: Mon, Apr 19 2010. 11 56 PM IST