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India Plans to Sell a Stake in State-Run Coal Miner

Siddhartha Singh
India Plans to Sell a Stake in State-Run Coal Miner

Prime Minister Narendra Modi’s administration is planning to offload a stake in state-run Coal India Ltd. to speed asset sales after a disastrous attempt to find a buyer for the cash-strapped national airline, people with knowledge of the matter said. The Department of Investment and Public Asset Management is finalizing the amount of stake to be offered in the financial year ending March 31, the people said, asking not to be identified as the information is not public. Modi’s plan to raise about $12 billion in the current year from asset sales is at risk after a high-profile plan to sell Air India ground to a halt as no prospective suitors emerged.