The EGOM have cleared the divestment of Coal India and Hindustan Copper. In the case of Coal India it would be a sale by the government of 10% of its equity. The government currently hold 100% of the same.

In the case of Hindustan Copper the present holding of the government is 99.59%. They plan to offload 10% of their holding and the company would raise fresh equity of 10%. Post the FPO the government holding would reduce to 81.43%.

The closing price of Hindustan Copper on the BSE on Tuesday was Rs 513.35. The EPS for the year ended March 2010 was Rs 3.34 and the price earnings multiple a staggering 153.53. The market cap for the company which has an equity of Rs 462.61 crs is Rs 23,748.68 crs.

The issues are expected in the second half of the financial year 2010-2011.