Coal India's share listed in the Stock Exchanges
Nov 04, 2010
The listing ceremony of Coal India’s Initial public offering (IPO) was held on Thursday, 4th November, 2010 at the International Convention Hall, Bombay Stock Exchange, BS Marg Mumbai.
The ceremony started with the ceremonial lighting of the lamp by Shri C. Balakrishna, Secretary, Coal, Shri Sumit Bose, Secretary Deptt of Disinvestment, Shri Partha S. Bhattacharyya, Chairman Coal India Limited, Shri Alok Perti Add Secretary, Coal, Smt Kalpana Mittal Barua, Add Secretary DoD and Shri Madhu Kannan, CEO, Bombay Stock Exchange.
Shri NC Jha, D(T) CIL and Shri R Mohan Das D(P&IR) CIL were also present on the occasion.
Ceremony started with the ceremonial lighting of the lamp by Shri C. Balakrishna, Secretary, Coal. Lighting of the lamp by Shri Sumit Bose, Secretary, Deptt of Disinvestment.
Shri Partha S Bhattacharyya, Chairman Coal India delivered the key note address. Speaking on the occasion he said that the listing of the CIL share was the culmination of a two year long process. He pointed out that the fundamentals of the company are very strong. He thanked the past and present management and the employees of the company for their efforts and hard work which has led to the transformation of CIL from a loss making mining company to one of the country’s biggest company in a span of 35 years. He further said that prior to the IPO Coal India was known for all the wrong reasons like corruption and illegal mining but now it has made a mark for all the right reasons.
Shri C Balakrishna, Secretary Coal said that the onus was now on the management and staff to live up to the expectations of the country and continue to work harder to achieve the targets set.
Shri Sumit Bose Secretary, Department of Disinvestment pointed out that this was just the beginning of the process and he hoped that that the other PSUs lined up for disinvestment will evoke similar positive reaction from the investors.
Shri AK Sinha, Director Finance CIL gave the vote of thanks.
At 9.15 a.m. Shri Partha S Bhattacharyya, Chairman Coal India rang the bell at the BSE. The CIL stock opened at Rs 291 and ended the first day at Rs 342.35 per share making CIL the fourth most valued company in the country with a market capitalization of Rs 2.16 lakh crores.
(Left to Right) Shri Alok Perti, Add Secretary, Coal; Shri AK Sinha, Director Finance, CIL; Shri Partha S. Bhattacharyya, Chairman, CIL. (Left to Right) Shri Alok Perti, Add Secretary, Coal; Shri Partha S. Bhattacharyya, Chairman, CIL; Shri C. Balakrishna, Secretary, Coal; Shri Sumit Bose, Secretary, Deptt of Disinvestment; Smt Kalpana Mittal Barua, Add Secretary, DoD; Shri Madhu Kannan, CEO, Bombay Stock Exchange.
Later Chairman along with the other dignitaries present on the occasion addressed the media.