The Government of India held 78.32 percent equity stake in Coal India as of June 2018 while the public shareholding was 21.68 percent.
Coal India share price climbed 3 percent intraday Monday after reports indicated that the government is planning to sell some minority stake in the company.
Government official said the government aims to raise Rs 10,000-12,000 crore in FY19 via minority share sale in the country's largest coal mining company, reports CNBC-TV18 quoting NewsRise.
The Centre is mulling stake sale via block deal and the roadshow for the same will take place this week, the report said.
The report further said the government expects IOC, NTPC, ONGC & Oil India to buy back shares from it this financial year and plans to seek fresh bids for Air India in the next financial year.
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Coal India had raised Rs 15,200 crore, the highest ever amount raised by Indian entity, through IPO in October 2010 and the government diluted 10 percent stake for this issue.
The dilution of stake by the government may be to comply with minimum public shareholding norm, which required the public shareholding should be at least 25 percent.
The Government of India held 78.32 percent equity stake in the company as of June 2018 while the public shareholding was 21.68 percent.
At 11:40 hours IST, the stock price was quoting at Rs 283.00, up Rs 1.80, or 0.64 percent on the BSE.