South Eastern Coalfields Ltd., a unit of state-run Coal India Ltd., has hired banks for an initial public offering in Mumbai that could raise as much as $800 million, according to people familiar with the matter. The coal producer has appointed ICICI Securities Ltd., SBI Capital Markets Ltd., Motilal Oswal Investment Advisors Pvt. and IDBI Capital Markets & Securities Ltd. to advise on the share sale, the people said, asking not to be identified because the information is private. South Eastern Coalfields aims to file a draft prospectus as early as December, the people said. Parent Coal India is expected to sell shares in the proposed offering, they added. Discussions are ongoing and details including the size and timing of the offering could change, the people said. Representatives for Coal India, South Eastern Coalfields and the banks didn't immediately respond to requests for comment. The potential listing would add to Coal India's efforts to take some of its sub...
The Ahmednagar district in western Maharashtra will be renamed after Ahilyadevi Holkar, the legendary 18th century ruler of the Indore state, Chief Minister Eknath Shinde announced on Wednesday.
Mr Shinde was speaking at a function at Choundi in the district, the birthplace of Ahilyadevi (also known as Ahilya Bai), to mark her 298th birth anniversary.
Earlier, Deputy Chief Minister Devendra Fadnavis said at the function that he would request Chief Minister Shinde to rename Ahmednagar city as 'Ahilyanagar'.
"Our government works keeping in mind the ideal of governance set by Chhatrapati Shivaji Maharaj and Ahilyadevi Holkar. Therefore, as per the wish of all of you, we have decided to rename (the district) for Ahilyadevi Holkar," Mr Shinde said in his speech.
Mr Fadnavis said that had Ahilyadevi Holkar not been there, "there would not have been Kashi, temples of Lord Shiva." The ruling alliance of the BJP and Shinde-led Shiv Sena was a "Hindutva government," he added.
The Deputy Chief Minister also noted that before this, the Shinde government renamed Aurangabad as Chhatrapati Sambhajinagar and Osmanabad as Dharashiv.
The city of Ahmednagar, 120 km northeast of Pune, is said to have derived its name from the 15th century ruler Ahmad Nizam Shah
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