Coal India to kick off roadshows for IPO from Aug 31 | business | Hindustan Times
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Coal India to kick off roadshows for IPO from Aug 31

business Updated: Aug 28, 2010 21:31 IST

State-owned Coal India Limited will kick off roadshows in India and abroad from August 31 for its Initial Public Offer (IPO) in October.

"The roadshow for the anchor investors will begin on August 31 from Chennai," CIL Chairman Partha S Bhattacharyya told reporters today on the sidelines of 'Environment and Energy Conclave' here.

Subsequently the roadshows will be held in overseas markets including Sydney, London, New York, Boston, Los Angeles, Hong Kong and Singapore from September 6, he said.

Coal India had filed a draft prospectus with the market regulator earlier this month for the forthcoming IPO which was likely to mop up over Rs 12,000 crore by divesting the central government’s equity by 10 per cent.

The CIL chairman also said that the company was scouting for coal assets in Australia, Indonesia and USA.

"Talks are underway and something positive is likely to crystalise within 2/3 months time," he said.

He said that CIL was also planning to have a 50:50 joint venture with Shipping Corporation of India for bringing imported coal to the country.