Oct 20, 2013, 08.08 PM IST
The roadshow begins amid threats by the workers of the state-owned firm to go on strike in December against the government move to divest its stake further.
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Roadshow for Coal India stake sale likely from Monday
The roadshow begins amid threats by the workers of the state-owned firm to go on strike in December against the government move to divest its stake further.
Like this story, share it with millions of investors on M3
Roadshow for Coal India stake sale likely from Monday
The roadshow begins amid threats by the workers of the state-owned firm to go on strike in December against the government move to divest its stake further.
"The eight-day roadshow in places like London and some of the cities of the US, to attract foreign investors in CIL will begin from Monday," said an official.
However, he added: "This is a non-deal roadshow. The entire purpose of this roadshow is to tell the investors about CIL as a company and the kind of reserves it has."
The roadshow begins amid threats by the workers of the state-owned firm to go on strike in December against the government move to divest its stake further.
CIL workers' union had in September decided to defer its proposed three-day strike to December 17. Earlier, it was planned from September 23.
The government, which currently holds 90 percent stake in the company, had earlier pared a plan to sell 10 percent stake in CIL to placate employee unions. The proposal now is to divest 5 percent stake through offer for sale (OFS) route.
CIL was listed on bourses in 2010 after the government raised Rs 15,199 crore by selling 10 percent stake in the country's biggest initial public offering.
The company has a cash balance of about about Rs 62,000 crore. The government plans to garner Rs 40,000 crore this fiscal by way of disinvestment, of which CIL's stake sale would be the largest.
On October 18, 2013, Coal India closed at Rs 285.85, up Rs 1.85, or 0.65 percent. The 52-week high of the share was Rs 374.05 and the 52-week low was Rs 238.35.
The company's trailing 12-month (TTM) EPS was at Rs 13.88 per share as per the quarter ended June 2013. The stock's price-to-earnings (P/E) ratio was 20.59. The latest book value of the company is Rs 32.48 per share. At current value, the price-to-book value of the company was 8.80.
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