Public CompanyCoal India to go 'Public Ltd' before divestment
Paving way for its disinvestment, the country"s largest coal miner, Coal India, will soon become a "Public Ltd" company from a private one at present.
"For disinvestment and coming out with public offer, the pre-requisite is to become a public limited company. We will adopt a resolution in a month or two to become a public Ltd company from private Ltd at present," Coal India Chairman P S Bhattacharyya said over phone from Kolkata.
Coal India produced about 403 million tonnes of coal in the last fiscal. The company has a capital expenditure plan of Rs 3,200 crore for this fiscal and aims to increase production by 7.5 per cent to 435 million tonnes by the end of the current financial year.
Coal India had a profit before tax of Rs 8,738.46 crore in the last fiscal.