Adfactors Advertising and Concept PR are among the seven public relations firms that are in the fray to bag the contract for handling Coal India Limited's IPO, expected to hit the market in September this year.
Adfactors, Concept, Pressman Advertising, Sobhagya Advertising, Raka Advertising, Hanmer Advertising and Dentsumarcon are scheduled to make presentations in this regard before the disinvestment department on Monday, according to a Finance Ministry statement.
Recently, the Union Cabinet had decided to disinvest 10 per cent of the government's holding in CIL, the world's largest coal producer. The Centre holds 100 per cent equity in the company.
Coal Minister Sriprakash Jaiswal had said that the IPO, from which the government expects to raise Rs 10,000-12,000 crore, could be launched in September if market conditions are conducive.
The government aims to raise Rs 40,000 crore through disinvestment this fiscal. So far, divestment in the Satluj Jal Vidyut Nigam has fetched the exchequer over Rs 1,000 crore.
The government is likely to sell its stake in 10 PSUs, including MMTC, SAIL and Hindustan Copper, this fiscal.
During the last fiscal, it had raised Rs 25,000 crore through stake sales in Oil India, NMDC, REC and NTPC.