The Coal Minister's statement came after the Cabinet Committee on Economic Affairs approved disinvestment of 10 percent in CIL through the book-building process in the domestic market. Jaiswal had earlier said the timing of the IPO would depend on the market conditions.
Asked about the estimated amount the government could get as proceeds of the IPO, he said, "It would depend upon the issue price. I can not say anything now.
Jaiswal had recently said that CIL's 10 percent disinvestment could raise up to Rs 12,000 crore. Coal India had targeted to hit the market by August, but was facing protest from Left Wing trade unions and other political parties.
The government has appointed six merchant bankers -- Citigroup, Deutsche Bank, Morgan Stanley, Enam, Kotak Mahindra and DSP Merrill Lynch -- for managing the IPO. Meanwhile, Jaiswal said a high-powered committee will be set up in the next 15 days to monitor operations of Coal India in "no go" areas earmarked by the Ministry of Environment. "The aim of the committee would be to examine CIL operations in no go areas," he said, adding that his ministry would ensure the impact of CIL projects in such areas is minimal.
Last year, along with the Ministry of Environment, the Coal Ministry had prepared a list delineating "go areas" and "no go" areas in mineral-rich states like Orissa and Jharkhand for mining.
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