Centre gets Rs 41.85 billion from Coal India stake sale

The government has mopped up Rs 41.85 billion through the sale of a 3 per cent stake in Coal India. After the offer for sale, the Centre’s hol­ding has come down to 63.13 per cent in the firm. The issue was oversubscribed by both retail and institutional investors. The target for disinvestments in 2023-24 has been pegged at Rs 510 billion. Prior to this, Blackstone had acquired 90 per cent of another related company, Madanahatti Logistics and Industrial Parks, for Rs 64 million and invested Rs 1.7 billion in its debentures.