Government preparing to sell 5-10% stake in Coal India, Hindustan Zinc and RCF: Report

The Indian government is considering selling its stake in Coal India, Hindustan Zinc and Rashtriya Chemicals and Fertilizers (RCF). According to a Bloomberg report, in the last quarter of the current fiscal year, the Center may increase its income by selling some stake in these government companies. Currently, the stock market is trading at its all-time high, due to which the government is thinking of a stake sale.

The government can sell some of its stake in these companies through Offer for Sale (OFS). According to a Bloomberg report, if the government sells even 5% of its shares at the current value, it can raise Rs 16,500 crore, or $2 billion.

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