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 Grand Alliance in Bihar has come to an understanding about the sharing of the state's 40 Lok Sabha seats. Sources said the under the deal, Lalu Yadav's Rashtriya Janata Dal will contest 26 seats, the Congress 9 seats, the Left parties five of which the CPIML will contest three seats.
The parties will hold a meeting in Delhi tomorrow to take a final call on the constituencies, after which the formal announcement will be made from Patna, sources said.
Key leaders of all the parties will be present in the meeting at Delhi tomorrow. It is likely that Congress chief Mallikarjun Kharge and the Gandhis will attend the meeting, sources said.
The Congress had contested on nine seats in 2019 as well. Of those, the party won just one seat. The RJD failed to win any. The NDA had won 39 of 40 seats, of which the BJP won 17, Nitish Kumar's Janta Dal United just one seat behind, and Chirag Paswan's Lok Janshakti Party all six it contested.
This time, Nitish Kumar is back again in the NDA after a brief stint with the Grand Alliance. The BJP has also retained Chirag Paswan, despite the split in his party and their initial backing of his rebel uncle, Pashupati Paras.
The announcement has to take place soon, since the filing of the first phase of nomination in Bihar ends on Thursday -- the extra days being on account of an extended government holiday for Holi.
Last week, the NDA formally announced its seat share in Bihar, in which the BJP took pole position, contesting 17 seats.
Mr Kumar's JD(U), which previously dominated the alliance in the state, will contest on 16 seats. The Lok Janshakti Party will contest on five seats, Jitan Ram Manjhi's Hindustan Awam Morcha and Upendra Kushwaha's RLM gets one seat each.
from NDTV News- Special https://ift.tt/XDjTHyL
Comments
Post a Comment