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Employees offered CIL shares
Employees will be offered 99 lakh shares at Rs.252.7 per share of Coal India Ltd which is expected to fetch Rs.250 crore as the government divest its stake.
The offer to employees involves an additional 5% of the 3.18% divested early November 2018.
The offer to financial institutions and retail investors is priced Rs.266 per share of CIL which will continue to be a government-controlled company with 75.13% stake.
The Centre expects to raise Rs.5,267 crore from sale of 19.8 crore equity shares, according to media reports on 9 Nov 2018. fiinews.com
