The OFS comprises sale of up to 1.74 crore shares by Rhine Holdings Ltd; up to 7.23 lakh shares by Kedaara Capital Alternative Investment Fund-Kedaara Capital AIF I; and up to 1.81 crore shares by Ravi Modi Family Trust.
Coal minister Sriprakash Jaiswal had said last month that the coal block auction is likely to be held in the next two months. Officials had earlier said the number of blocks to be put on auction were yet to be finalised.
Prithvi Haldea, MD, Prime Database is not happy with the way government has handled its divestment programme.
The Power Minister was quoted as saying that Coal India Ltd (CIL) may reduce e-auction supply. There are also problems in the fuel supply agreement (FSA) between National Thermal Power Corporation (NTPC) and CIL.CNBC-TV18‘s Siddharth Zarabi reports.