Government has sold 2.21%, i.e. 13,73,11,943 equity shares in Coal India to the central public sector enterprises (CPSE) ETF mutual fund scheme which is managed by Reliance Nippon Life Asset Management. Post-acquisition holding of promoter is 72.92% of equity share capital of the company.
The government has garnered more than Rs 17,000 crore from the CPSE ETF follow-on offer, the biggest-ever fundraising from an exchange-traded fund domestically.
Coal India is the world’s largest coal mining company. It also produces non-coking coal and coking coal of various grades for diverse applications.