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Govt looking to sell 5%-10% in Coal India, Hindustan Zinc, RCF: Report

The government is looking to sell a tranche of its stake via the offer-for-sale (OFS) mechanism.

November 25, 2022 / 12:56 PM IST
 
 
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The Indian government is planning to sell 5-10 percent in Coal India, Hindustan Zinc and Rashtriya Chemicals and Fertilizers (RCF), Bloomberg reported on November 25. The report suggested that the sale of small stakes in state-run firms is to push a stock market boom and boost revenue in the final quarter of the financial year.

The government is looking to sell a tranche of its stake via the offer-for-sale (OFS) mechanism.

At present value, the sale at lower end of the range could fetch the Centre around Rs 16,500 crore or $2 billion, as per calculations reported by Bloomberg.

Moneycontrol could not independently verify the report.