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According to people familiar with the matter, the Indian government is planning to sell some of the shares of Indian coal companies to accelerate asset sales
.
Previously, the Indian government also struggled to find buyers
for cash-strapped national airlines.
Bloomberg reported that the investment and public asset management division will determine the number
of shares that will eventually be sold during the current fiscal year (ending March 31, 2019).
If necessary, the government can proceed with a share sale
in two stages.
With no potential purchasers emerging, the Indian government had to suspend plans to sell shares in Air India, which also put the Indian government's $12 billion asset sale plan at high risk
.
On the other hand, Coal India, India's largest fuel mining company, reported strong shipment figures
due to the recent surge in electricity demand.
The Indian government owns more than 78%
of Coal India.
In January 2015, the Indian government had sold a 10 per cent stake to raise Rs 22,550 crore
.
According to people familiar with the matter, the Indian government is planning to sell some of the shares of Indian coal companies to accelerate asset sales
.
Previously, the Indian government also struggled to find buyers
for cash-strapped national airlines.
Bloomberg reported that the investment and public asset management division will determine the number
of shares that will eventually be sold during the current fiscal year (ending March 31, 2019).
If necessary, the government can proceed with a share sale
in two stages.
With no potential purchasers emerging, the Indian government had to suspend plans to sell shares in Air India, which also put the Indian government's $12 billion asset sale plan at high risk
.
On the other hand, Coal India, India's largest fuel mining company, reported strong shipment figures
due to the recent surge in electricity demand.
The Indian government owns more than 78%
of Coal India.
In January 2015, the Indian government had sold a 10 per cent stake to raise Rs 22,550 crore
.
