Prabhu-led advisory group also suggests JVs with mining and infra firms.
The country's largest coal producer Coal India is likely to decide in 2-3 days on roping in anchor investors for its upcoming mega initial public offer, Coal Minister Sriprakash Jaiswal said here on Friday.
Splitting Coal India Limited could increase competition and hence make production more efficient, but opinion is building against it.
Biggest ever share sale by any private or public sector co in India.
The Coal India offering would follow a 5 percent stake sale in state-controlled Oil and Natural Gas Corp, worth $2.8 billion and slated for December.
The PPP model for CIL was first mooted by the Planning Commission.
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The newly appointed CMD at Coal India has a tough road ahead.
Customs duty cannot be levied on electricity supplied from a special economic zone (SEZ) to the domestic market, ruled the Supreme Court on Monday while upholding Adani Power's appeal against a 2019 judgment of the Gujarat high court. The 2019 judgment had denied relief to Adani Power from Customs duty on electricity supplied from its Mundra SEZ unit to the domestic tariff area (DTA).
With the country poised to import 142 million tonnes in 2011-12, the development holds significance as a tie-up with railways will help CIL in transporting the imported coal to its destinations.
The Union cabinet had approved Coal India's IPO last month, to divest 10 per cent of the government's stake in the Navratna PSU.
This was perhaps a missed opportunity for India to spotlight a core domestic challenge: The scale of workforce preparation required for a young, populous, rapidly growing country seeking to reach net zero, points out Radha Roy Biswas.
This year, Coal India plans to gauge the domestic market through a tie-up with MMTC and State Trading Corporation.
Production and prices have been stagnant for several years, but the company's cost-cutting drive is showing results.
Eight investment banks including HSBC and India's ICICI Securities and SBI Capital have submitted bids to manage a 10-per cent stake divestment in state-owned Coal India.
Despite his influence, Pratik Jain avoids the spotlight. Credit is routinely passed on to colleagues. He maintains no visible faction within the TMC, no personal coterie.
United States President Donald Trump reiterated the claims of having to do 'something' about Greenland, saying that if US doesn't take any action, Russia and China would spring in and that Washington, DC does not want to have them as neighbours.
After land, coal is turning out to be the latest hurdle to West Bengal's industrialisation drive.
NTPC raises new demands, while CIL is not willing to yield
Navratna public sector unit Coal India Ltd has received a proposal to acquire 'The Kraal' -- Mahatma Gandhi's house in Johannesburg where he had lived a century ago -- and convert it into a memorial, the government has said.
A planned stake sale in Coal India in the last financial year had to be deferred after stiff opposition from the trade unions.
India's exports jumped by 19.37 per cent to $38.13 billion in November, while imports dipped by 1.88 per cent to $62.66 billion, according to government data released on Monday.
CIL is charged of discriminating in favour of public sector firms in the reworked format of fuel supply agreements.
Over 25 years, societies evolve and tastes change. Cinema absorbs and reflects this transformation. Picking only 25 films from the first quarter of the century is tough.
Coal India said 52 global companies have expressed interest in partnering with it for acquiring mines overseas, especially in Australia, Mozambique and Indonesia.
With Coal India deciding to pay around Rs 16,485 crore as interim dividend, the government will be able to make up for the shortfall in the disinvestment target of Rs 40,000 crore for the current fiscal.
State-run Coal India is likely to file the red herring prospectus for its initial public issue, through which the government is expecting to raise about Rs 15,000 crore (Rs 150 billion), on September 25.
The company will engage various NGOs for the construction of toilets as well as undertake awareness campaigns for better sanitation, it said adding that a total of around 100,000 households would be benefited by the sanitation initiative.
Coal India, which is likely to hit the capital markets in October, "will be in the list of Fortune 500 the day it is listed on the stock exchange," the head of a government panel on public sector units said on Monday.
The deadline for these overseas mining firms for responding to CIL's EoI notice is August 31 this year.
Coal ministry officials along with senior officials from Coal India and department of disinvestment would meet with capital market regulator Securities and Exchange Board of India this month to take forward the process of listing the public sector unit.
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CIL aims to sell 12.6 mn shares to retail investors
India, the world's third-largest oil consumer, spent 2.5 billion euro on buying crude oil from Russia in September, 14 per cent less than the previous month, a European think tank said. India remained the second-largest buyer of Russian fossil fuels in September behind China, according to the Centre for Research on Energy and Clean Air (CREA).
A top Coal India official, however, said the hike would be 'modest' and said, 'our prices are 50 per cent discounted as compared to the global prices. Now there has been a major wage revision resulting in over Rs 4,000 crore (Rs 40 billion) additional financial burden on us which cannot be met through production and productivity alone.'
India's largest initial public offering (IPO), to be floated by Coal India Ltd, is generating enormous interest in the grey market. Investment bankers and stockbrokers that control this unregulated market are already trading CIL shares at a Rs 10-12 premium - even before the price band or issue date have been officially announced.
The rupee plunged 26 paise to an all-time low of 90.75 against the US dollar in intra-day trade on Monday, weighed down by uncertainty over an India-US trade deal and persistent foreign fund outflows.
Vedanta, a conglomerate in mining and metals, has seen a surge in its share price on the back of multiple triggers. Its demerger appears to be on track, a strong non-ferrous commodity cycle is boosting margins, and silver bulls are interested in Hindustan Zinc, its subsidiary.
Foreign direct investment (FDI) in India rose 18 per cent to $35.18 billion during April-September this fiscal year, while the inflow from the US more than doubled to $6.62 billion during the first half of this fiscal, according to government data released on Monday. Foreign Direct Investment (FDI) during April-September FY24 stood at $29.79 billion.
Jindal Steel and Balco emerged as the top bidders.
The matter has now been escalated and the ministry has written to Customs, Bureau of Indian Standards (BIS) and the Directorate of Revenue Intelligence (DRI) to investigate it thoroughly.
'At COP30, the emphasis will be on unlocking climate finance, reinforcing the principle of common but differentiated responsibilities, and building resilience through inclusive transitions and the mainstreaming of adaptation.'
