Coal India Limited has filed its DRHP with SEBI. The government of India plans to divest 10% of the post offer equity of the company through this offer for sale. The issue size would be 63,16,36,440 equity shares with a reservation of 6,31,63,644 equity shares for its employees.

Coal India is the world largest producer and also the largest reserve holder of coal in the world. The company produced 431.26 million tons in the year ended March 2010. As on 31st March 2010 the company is operating 471 mines in 21 major coalfields across eight states in India. The turnover of Coal India was 52,592.29 crs for March 2010 and its net profit Rs 9,829.41 crs. This implies a net margin of 18.69 %. The EPS for the company for the year ended March 2010 was Rs 15.56 on a consolidated basis which has grown significantly from Rs 6.43 for the year ended March 2009.

Coal India employs 3.97 lakh people which include 3.43 lakh workers.
Exact dates for opening the issue are yet to be worked out but probably the same is likely to happen towards the end of September or early October.