Coal India Limited (CIL) - a Schedule 'A"Navratna' Public Sector Undertaking under Ministry of Coal, Government of India is going to come up with its IPO, which is going to be 2nd Largest IPO in 2010.
Coal India Limited has its Headquarters in Kolkata. West Bengal. It produce non-coking coal and coking coal of various grades for diverse applications.
As of March 31, 2010, it operated 471 mines in 21 major coalfields across eight states in India, including 163 open cast mines, 273 underground mines and 35 mixed mines (includes both open cast and underground mines). It also operated 17 coal beneficiation facilities with an aggregate designed feedstock capacity of 39.40 million tons per annum. It intend to develop an additional 20 coal beneficiation facilities with an aggregate additional proposed feedstock capacity of 111.10 million tons per annum. Besides this, it provides 85 hospitals and 424 dispensaries.
The date of Coal India Limited IPO is not confirmed. There is speculation that it would be priced at a 20-30% discount to its global peers, price band, is expected to be anywhere between Rs 220 and Rs 270.
However, still the final decision on Coal India price band has to come by eGoM, most probably on October 12. Continuing with its previous tendency, the government is likely to offer retail investors a concession of 5%.
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