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...
As many as 23 Pakistani nationals rescued by the Indian Navy from Somali pirates after a daring operation in the Arabian Sea on March 29 thanked India and raised slogans of 'India Zindabad'.
The Indian Navy's specialist team had protected them from nine armed pirates, and completed sanitization and seaworthiness checks of fishing vessel Al-Kambar.
The Pakistani crew of the rescued Iranian flagged fishing vessel could be seen raising "India Zindabad" slogans in the Arabian Sea after they were rescued from the pirates.
#WATCH | The crew comprising 23 Pakistani nationals thanked the Indian Navy and raise 'India Zindabad' slogans after the Indian Navy's specialist team protected them from nine armed pirates, and completed sanitisation and seaworthiness checks of FV Al-Kambar.
— ANI (@ANI) March 30, 2024
The crew were… https://t.co/AREXZTtqiR pic.twitter.com/0QE4B7GfSe
Based on the inputs on a potential piracy incident onboard Iranian Fishing Vessel late evening on March 28, two Indian Naval ships, mission deployed in the Arabian Sea for maritime security operations were diverted to intercept the hijacked fishing vessel.
The FV at the time of incident was approximately 90 Nm south-west of Socotra and was reported to have been boarded by nine armed pirates. The hijacked FV was intercepted on March 29.
The Indian Navy remains committed to ensuring maritime security in the region and safety of seafarers, irrespective of nationalities, according to the statement.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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