India to Raise $3.7 Billion Through Coal India Share Sale

Bloomberg reported that India intends to raise $3.7 billion through selling shares of Coal India in a move to shrink their deficit.

The success of the share sale will depend a lot on the mood of the market,” said Rahul Jain, an analyst with CIMB Securities India Pvt. in Mumbai, who has an underperform rating for the stock. “The timing of the share sale should also be right. It should not be clubbed with three or four other share sales in a short period of time.

To view the whole Bloomberg report, click here.