The Government of India, through the Ministry of Coal, has executed a significant financial maneuver with the sale of equity shares in Coal India Limited. Acting on behalf of the President of India, the ministry offered 123,279,566 equity shares via the stock exchange, amounting to an impressive ₹5,549 crore.
Notably, the legal advisory for this transaction was provided by Khaitan & Co, a prominent law firm. The team that orchestrated this advisory included Partner Madhur Kohli and Senior Associate Avinash Gautam, who were instrumental in guiding the President of India through this complex financial transaction.
Furthermore, the offer was facilitated by a consortium of brokers, including Axis Capital Limited, ICICI Securities Limited, JM Financial Institutional Securities Limited, Kotak Securities Limited, and SBICAP Securities Limited. These entities played a pivotal role in ensuring the smooth execution of the share sale through the stock exchange mechanism.
This transaction marks a significant event in the financial landscape, showcasing the strategic divestment efforts by the Indian government, allowing for greater capital influx into the nation’s treasury.
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