New Delhi, August 16: In a step towards disinvestment, Coal India has got approval from the coal ministry to reduce the face value of its shares to Rs 10 from existing Rs 1,000, a move would increase the number of the company’s shares to 631.6 crore.
At present, the face value of one Coal India share stands at Rs 1,000 and the company has 6.316 crore shares, Coal India Chairman P S Bhattacharyya told PTI.
“The coal ministry has given us its approval to lower the face value of our shares from Rs 1,000 a share at present to Rs 10 per share,” he said. The navaratna firm has a paid-up equity capital of about Rs 6,300 crore.
–PTI