CMPDIL headquarters at Kanke Road in Ranchi

Ranchi, Oct. 6: Coal India Limited today appealed to employees to invest in the coal major’s initial public offer (IPO) in a “roadshow” that was actually held indoors.

But nomenclature did not matter, as armed with a power-point presentation and advice from a financial expert, top executives of subsidiary companies Central Mine Planning and Design Institute Limited (CMPDIL) and Central Coalfields Limited (CCL), explained the IPO to employees at a packed Mayuri Hall at CMPDIL headquarters.

The IPO forms will be available from October 18 to 21, while share price will be fixed on October 13. The two-hour presentation — made by CMPDIL’s A.K. Singh and CCL’s R.K. Saha — from 9.30am to 11.30am, explained the IPO’s benefits directed at employees, including those in subsidiary companies.

Ten per cent of Coal India Limited’s total equity will be up for disinvestment, with one per cent offered to employees at a discount of five per cent. To get discount, an employee will apply for shares through a pink form, with an investment ceiling of Rs 1 lakh.

In all, an employee can apply for shares worth Rs 2 lakh, with shares worth Rs one lakh each on both pink and white forms, but will not get discount on the white form.

General investors can apply for shares only using the white form with an investment ceiling of Rs 1 lakh. An employee will have to open a demat account before applying for shares.

With CIL and subsidiary companies being unchallenged leaders in coal, its shares will be hot picks for investors, said a company source.

But the coal major is not taking chances. Six teams of senior executives, including chairmen-cum-managing directors, senior directors and financial experts from the coal major’s banking partner Citibank, have been roped in for roadshows till October 17.

CIL chairman P.S. Bhattacharya has already visited some important centres abroad in this regard. Roadshows in cities like Chennai, Bangalore, Ahmedabad, Surat and others are also on Coal India Limited’s agenda.