10pc disinvestment in Coal India, Hindustan Copper

Subscribe to Oneindia News

10pc disinvestment in Coal India, Hindustan Copper
New Delhi, Jun 15: The Cabinet Committee of Economic Affairs (CCEA) has approved the disinvestment of 10 per cent equity each in mining companies Coal India Ltd and Hindustan Copper Ltd.

“Disinvestment of Coal India Ltd would be through book building process in the domestic market. One per cent of the equity will be offered to the employees of Coal India Ltd and its eight subsidiaries," Home Minister P Chidambaram said after the CCEA meeting.

In the meeting held on Tuesday, Jun 15, the CCEA also decided to allow five per cent price concession to retail investors and employees of Coal India Ltd (CIL).

Disinvestment of Hindustan Copper Ltd will be done through a fresh issue of equity to extent of 10 per cent of the pre-issued paid up capital.

“In conjunction with the issue of the equity, government will also disinvest its 10 per cent pre-issued paid up capital of the company (Hindustan Copper)," the minister informed.

OneIndia News

Please Wait while comments are loading...