The government will be holding roadshows in Singapore, Hong Kong and Australia from next week in the run-up to the sale of 5 per cent stake in Coal India Limited (CIL) possibly next month.

Last month, the government held roadshows in five nations, including Germany and Britain.

The stake sale has met with stiff resistance from the trade unions, who have threatened to go on an indefinite strike from December 17 if the government decides to go ahead with the sale of equity in CIL.

Strong fundamentals

According to Coal Secretary S. K. Srivastava, CIL is a sound company with strong fundamentals.

“Investors will always have concerns and, therefore, these types of interfaces with investors help. There were talks about the huge reserves of CIL and they wanted to know the future plans of using these resources,” he added.

Strike deferred

The Department of Disinvestment had originally planned to sell a 10 per cent stake in CIL but faced strong opposition from employees’ unions. A proposed three-day strike was deferred to December 17 from September 23. However, the stake sale was brought down to 5 per cent, and another 5 per cent could be in the shape of buy back offer.

More In: Industry | Business