LIC is the biggest bidder in Coal India divestment
The Dollar Business Bureau The Government of India has set a record for highest-ever divestment proceeds in a year, with the sale of its share in Coal India Limited (CIL). According to a government release on Friday, an amount of Rs 22557.63 crore was realised through the CIL disinvestment process. This is the largest ever disinvestment among Central Public Sector Enterprises (CPSEs) which involved disinvestment of 5% of the paid-up equity of Government of India. By selling its 10% share in Coal India, the government set a highest disinvestment collection record in the year, which was Rs 23,956 crore in 2012-13. The total offer of 63.16 crore shares made by the government remained oversubscribed with the investors bidding for 67.52 crore shares, across ...
