Coal India IPO likely in October

The IPO of Coal India Ltd., the world's largest coal miner, is expected to hit the markets by October, 2010. According to the company's website, Coal India Limited (CIL) - a Schedule 'A' 'Navratna' Public Sector Undertaking under Ministry of Coal, Government of India, has its Headquarters in Kolkata, West Bengal

Citigroup Global Markets India Pvt. Ltd, Deutsche Equities (India) Pvt. Ltd, Bank of America Merrill Lynch, Enam Securities Pvt. Ltd., Kotak Mahindra Capital Co. Ltd. and Morgan Stanley India Co. Pvt. Ltd. are the Book Running Lead Managers to the Issue

Currently, the Government of India holds 100% Equity in the Company. The Government is proposing to sell 10% of its stake through the IPO. Coal India Ltd. has already filed Draft Red Herring Prospectus with Securities and Exchange Board of India. The Equity Shares of Coal India Limited are proposed to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE)

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