Government to reduce stake in Coal India

Kolkata, Aug 13 (IANS) The Centre is planning to further reduce its stake in the world's largest coal miner, Coal India Ltd. (CIL) by 10 percent and hopes to raise funds in the range of Rs.23,000 crore-Rs.24,000 crore by means of stock market auction. "The government of India intends to disinvest 10 percent paid-up equity capital (63,16,36,440 shares each of face value Re.10) of CIL out of its shareholding of 78.65 percent through offer for sale of shares (OFS) by promoters through stock exchang