Coal India Limited would be the World’s biggest listed coal producer!

Coal India Limited is set to make history with Rs 15,200-cr IPO, Coal India’s initial public offering (IPO), the nations biggest and priced at a discount to global peers, is likely to attract investors and set the stage for it to become a global industry benchmark, akin to Brazil’s Vale in iron ore.

The government said investors can bid for Coal India (CIL) shares in the Rs 225-245 price band that will help it raise as much as Rs 15,200 crore. Ten per cent of the company, or 63.16 crore shares are on sale, which if priced at the top end, could make it the seventh most-valuable firm in whole of India with a market capitalization of $34 billion.

Coal India, with an output of 431 million tonnes a year, would be the world’s biggest listed coal producer. Its coal reserves are also the largest in the world with 10.6 billion tonnes compared with Peabody’s 9.3 billion tonnes and China’s Shenhua’s 7.4 billion tonnes.


Economic Times