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...
Retirement fund body EPFO has extended the deadline for filing applications to opt for a higher pension till July 11.
This is the second extension of the deadline for applying for a higher pension. Earlier, it was extended from May 3, 2023, to June 26, 2023. The last opportunity of 15 days is being given to remove any difficulty faced by the eligible pensioners/ members, the Employees' Provident Fund Organisation said in a statement.
"Accordingly, the last date for submission of Applications for Validation of Option/ Joint Options by employees is extended to July 11, 2023," it added.
"Online facility has been made available by EPFO for submitting Applications for Validation of Options/Joint Options for pension on higher wages. The facility is for eligible pensioners/members in compliance with the Hon'ble Supreme Court order dated November 04, 2022," the statement said.
"Timeline for applying for higher pension has been extended by 3 months for the employer and 15 days for the employee (member)," Raghunathan KE, Member representing Employers, Central Board of Trustees, EPFO, told PTI.
A lot of verification needs to be done as these are involving financial transactions, he added.
"We are happy and complement EPFO for three months time for employers and also 15 days for employees. EPFO once again proves to be considerate and compassionate to field issues," he said. Any eligible pensioner/member who on account of any issue in the updation of KYC, faces difficulty in submitting an online application for validation of option / joint option, may immediately lodge such grievance on EPFiGMS for resolution, as per the statement.
"The grievance may please be submitted by selecting the grievance category of 'Higher Pensionary benefits on higher wages'. This will ensure proper record of such a grievance for further action," it added.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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