Lack of appetite among potential investors as well as objections raised by some existing stakeholders could upset the plan, according to the business daily.
Lack of appetite among potential investors as well as objections raised by some existing stakeholders could upset the plan, according to the business daily.
Few potential foreign investors have dropped their plans to invest in CIL citing pressure from environmental activists, reports the newspaper.
Also, global merchant bankers have stayed away from the line-up of lead managers for the CIL issue, it adds.
The Department of Disinvestment (DoD) recently selected five domestic investment bankers to manage the proposed CIL issue.
Following the 10% stake sale in January this year, the Government's stake in CIL now stands at 79.65%.
Coal India Ltd ended at Rs. 341.5, up by Rs. 10.8 or 3.27% from its previous closing of Rs. 330.7 on the BSE.
The scrip opened at Rs. 331 and touched a high and low of Rs. 343 and Rs. 331 respectively. A total of 4025081(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 215703.69 crore.
The BSE group 'A' stock of face value Rs. 10 touched a 52 week high of Rs. 447.25 on 05-Aug-2015 and a 52 week low of Rs. 300.75 on 29-Sep-2015. Last one week high and low of the scrip stood at Rs. 343 and Rs. 329.55 respectively.
The promoters holding in the company stood at 79.65 % while Institutions and Non-Institutions held 17.48 % and 2.87 % respectively.
The stock traded below its 200 DMA.
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