The Union government’s disinvestment department has been on a roadshow in five nations including Germany and the UK to attract foreign investors for its Rs 9,000-crore Coal India’s five per cent stake sale. The roadshows are being held in New York, Boston and San Fransisco in the US, followed by Toronto in Canada and London in the UK, sources in the government said.
The sale of the 5 per cent government stake sale in the company is expected to fetch Rs 9,129 crore to the government at the current market price.
Proceeds from CIL disinvestment would be the largest in the current fiscal. The Union government hols 90 per cent stake in CIL.
Goldman Sachs, Credit Suisse and SBI Caps and other merchant bankers have been selected to manage the CIL stake sale which will take place through the offer for sale route.
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