Coal India to sell 25% stake in BCCL – EQ Mag Pro
CIL Board had given only in principle approval to the proposal. Only after the further clearance from GOL, further action would be initiated, as mentioned in BSE Filling
New Delhi: The government-owned coal mining and refining company Coal India on Thursday said the company is to divest 25 percent stake in its unlisted arm Bharat Coking Coal Ltd (BCCL)
Coal India Limited Board in its 438th meeting held on 10th March 2022 had accorded its “in-principle’ approval to divest 25% of paid-up share capital of BCCL held by CIL and its subsequent listing on stock exchanges and advised to forward the proposal to the Ministry of Coal for obtaining further clearances.”
CIL Board had given only in principle approval to the proposal. Only after the further clearance from GOL, further action would be initiated, as mentioned in BSE Filling
The company states Since only “in-principle” approval was given by CIL. Board, we have not communicated the same as there is no material impact on the company. On receipt of further clearance from MoC the same would be placed to the CIL Board and the decision of the CIL Board would be promptly disseminated to Stock Exchanges.
Source: psuconnect
