New Delhi: World's largest coal miner CIL is mulling to get listed on London Stock Exchange. "The proposal is at a very nascent stage," a source privy to the development said and refused to divulge further details.
The development comes ahead of the listing of NTPC's masala bonds at London Stock Exchange (LSE) and Singapore Stock Exchange this month. Coal India's (CIL) shares got listed on the Bombay Stock Exchange in the year 2010.
State-owned CIL is looking at spending Rs 8,500 crore on capital expenditure in the ongoing fiscal. The PSU has taken various measures for full utilization of capex during 2017-18 financial year.
Coal India accounts for over 80 per cent of the domestic coal production and is eyeing 1 billion tonnes of production by 2020. CIL produced 38.44 million tonnes (MT) of coal in April, falling short of the target of 43.58 MT.
Its offtake was 45.29 MT against the target of 49.51 MT. The company had missed the annual production target by 44.48 MT against a target of 598.61 MT and its offtake target by 55.45 MT for 2016-17.
