Coal India to appoint independent adviser for IPO

Fri, Nov 6 07:00 PM

State-run Coal India, the country's biggest coal miner, has been advised by the government to appoint an independent financial adviser for a potential initial public offering, its chairman said on Friday.

"We expect to make the appointment by December," Partha Bhattacharyya told Reuters from Kolkata.

The government on Thursday said unlisted state firms making profits in the past three consecutive years should list, as Asia's third-largest economy looks to fuel growth without further widening a large fiscal deficit.

(Reporting by Pratish Narayanan; Editing by John Mair)

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