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Further share sale in Coal India possible

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World Coal,

Another tranche of share sale in state-run miner Coal India Ltd is "not ruled out", a finance ministry official has stated.

Aradhana Johri, divestment secretary at the ministry, did not specify any time-frame for the share sale in the company, which is nearly 80% owned by the government.

The government still needs to sell about just over 5% of its stake in Coal India to bring down its holding to 75% in listed state-run companies, as stipulated by the market regulator.

In January, New Delhi raised about US$3.6 billion by selling a 10% stake in the miner, the largest-ever equity deal in the local market.

Edited from source by Joseph Green

Source: Reuters

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