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CIL to be listed in 3 years

business Updated: Oct 27, 2008 21:02 IST
Jaidev Majumdar
Jaidev Majumdar
Hindustan Times
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Coal India (CIL), the world’s largest mining company, is planning to become a publicly-traded company with an initial public offering slated to hit the markets within three years.

According to Partha S Bhattacharyya, chairman, CIL, the company has just been conferred the Navaratna status, which will entail the company to be listed in the stock exchanges and take autonomous decisions for fresh investments, both within and outside the country.

Post-Navartna, CIL is also planning to venture abroad by either making acquisitions or buying equity in mining companies. The company is already in talks with merchant bankers in the US to give shape to its global ambitions.