SME Times News Bureau | 24 Apr, 2010
Trade Union leaders representing Coal India Ltd's workers would meet Prime Minister Manmohan Singh soon to discuss their concerns over the proposed initial public offering (IPO) of the company, Coal Minister Sriprakash Jaiswal said in Kolkata on Friday.
"Though they have agreed to the IPO, still some representatives of the workers have sought to meet the prime minister," Jaiswal said on the sidelines of an event.
The government plans to sell 10 percent of its stake in the company through the IPO of 631.63 million shares of Rs.10 each.
The 10 percent stake includes 1 percent reserved for employees of Coal India and its eight subsidiaries.
The government holds 100 percent stake in Coal India.
Coal India reached an agreement April 16 with five trade unions following which a three-day agitation planned for May was called off. The Centre of Indian Trade Unions, backed by the Communist Party of India (Marxist), however, stayed out of the agreement.
