The initial public offer of Coal India, through which the government expects to garner up to Rs 12,000 crore, may hit the market in October, theUnion coal minister, Mr Sriprakash Jaiswal, said.
The minister said that the timing of the IPO will hinge on market conditions that are currently plagued by sharp volatility in the secondary market and a rather sluggish primary capital market, but the process is expected to be completed by October.
However, Mr Jaiswal declined to comment on any expectations on the divestment proceeds.— PTI