Coal India, an Indian state-controlled coal mining company, witnessed a fall in share price on Thursday after the Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister Narendra Modi, has approved the disinvestment of 10% paid up equity capital of Coal India.
The government will divest 631.64 million shares of face value of Rs 10 a share out of 78.65% shareholding through public offering in the domestic market. The government has adjusted 1% equity to be offered for sale to the employees of the company as per CCEA decision in September 2014, which is under process of implementation.
Shares of Coal India are trading at Rs 332.95, down Rs 2, or 0.60% at the Bombay Stock Exchange (BSE) on Thursday at 10:08 a.m.
Total volume of shares traded on the bourses today was lower by 73.91% to 912,045 compared with 22-day average volume of 3,495,157.