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...
NCP chief Sharad Pawar on Tuesday took exception to Telangana Chief Minister K Chandrashekar Rao arriving in Pandharpur town of Maharashtra with a huge motorcade, saying this attempt to "show strength" was worrisome.
K Chandrashekar Rao, who on Monday visited the famous Vitthal-Rukmini temple at Pandharpur in Solapur district of southern Maharashtra, held a rally at Sarkoli village, some 20 km away, on Tuesday as part of his Bharat Rashtra Samithi's (BRS) efforts to expand its base.
He arrived in the state with a motorcade of 600 cars on Monday.
Talking to reporters here, Sharad Pawar said if a chief minister of a neighboring state came to offer prayers, there was no reason to object.
"But the attempt to show big strength in terms of number of vehicles was worrisome," he said.
It would have been better had K Chandrashekar Rao's visit focused on enhancing cooperation between the two states, Pawar added.
Asked about Bhagirath Bhalke, who had unsuccessfully contested the 2021 Pandharpur Assembly bypoll on NCP ticket, joining the BRS at the Tuesday's rally, Pawar said there was no need to worry if an individual left the party.
"After giving ticket to Bhagirath Bhalke, we realized that our choice was wrong, but I do not want to talk about it," he said.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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