...Coal India IPO - The Mother of All IPOs Abstract:Coal India Limited (CIL), a Navratna PSU and the largest coal producing company in the world, came up with an Initial Public Offering (IPO) in October 2010, the biggest in the history of the Indian stock market. The IPO sought to raise funds close to INR 1,500,000 million by selling 631.63 million equity shares. Prior to this, the Reliance IPO had been the biggest IPO ever. The price band of the IPO was fixed at INR 225-245. Though the response from various stakeholders to this price band was divided, the issue was highly successful in terms of the response from investors and was oversubscribed by 15.28 times. The highest oversubscription, at 25.4 times, came from non-institutional investors. CIL was listed on November 4, 2010. In keeping with expectations, it was listed at a price of INR 287.75 and closed at a price of 342.35 on the BSE with the huge turnover of INR 63,241 million proving its tremendous success. Introduction:In October 2010, Coal India Limited (CIL), the largest coal producing company in the world, came up with the biggest ever Initial Public Offering (IPO) in the history of the Indian stock market to raise funds close to INR 1,500,000 million. CIL, given an IPO grading of 5/5 , offered 631.63 million equity shares through the IPO. Prior to this, Reliance Power Limited had been the mega IPO in the Indian stock markets, raising INR 115,000 million in 2008 by selling 260 million shares. In June 2007, real...
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...High risk, low return Introduction C oal COAL INDIA LTD’s shareholder value is threatened by poor corporate governance, faulty reserve estimations, regulatory risk and macro-economic issues. India Limited is the world’s largest coal miner, with a production of 435 million metric tons (MT) in 2011 -201 2. There is significant pressure on CIL to deliver annual production growth rates in excess of 7%. The company has a 201 7 production target of 61 5 MT.[1 ] Coal India’s track record raises questions over its ability to deliver this rate of growth. In addition, serious governance issues are likely to impact CIL’s financial performance. These pose a financial and reputational risk to CIL, its shareholders and lenders, while macroeconomic issues in the Indian energy economy pose a long term threat to Coal India. • CIL’s attempts to access new mining areas are facing widespread opposition from local communities and environmental groups. With its reliance on open-pit mining, access to new mines are essential for CIL to achieve production targets. • CIL has grown reliant on shallow, open pit mining for 90% of its production, and has lost in-house expertise on deep mining techniques. • CIL has a record of poor corporate governance, manifested in rampant corruption, poor worker safety and repeated legal violations. This has, in the last year alone, led to penalties and closure notices for over 50 mines, threatening both its financial performance and reputation. • CIL’s financial...
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...करल इबडडयह रलरमटन ड (भहरर COAL INDIA LIMITED सरकहर कह उपकम- महहरत कपनन A GOVT. OF INDIA ENTERPRISES-A MAHARATNA COMPANY) ब करल भवन 10, ननरहजन “COAL BHAWAN” ससभहष ररड NETAJI SUBHAS ROAD, करलकहरह KOLKATA 700001 O - 033 2248 8099 / 22424641 गहम GRAM - COAL INDIA फकस फ FAX - 033 22100833/22310578, E-MAIL- mtrecruitment@coalindia.in वनबसहइट WEBSITE - www.coalindia.in पबरधन पतशकक पररकक हसतक पवसश पत / ADMIT CARD FOR THE POST OF MANAGEMENT TRAINEES-2012 (अससहयन Provisional) पररकक तततथ TEST DATE: 22nd JULY 2012 (रतववकर SUNDAY) पररकक 10.00 पपवरह सस पकरर भहहगर TEST STARTS AT 10:00 AM तरपहरर करनस कक समय 09:30 पपवरह REPORTING TIME 09:30 AM ननबअरन स./ REGISTRATION NO. अ रहल नअ./ ROLL NO. जयनत / CASTE 0020974 5208-000537 GEN सअवगर / DISCIPLINE 16 - RAJBHASHA (HINDI) उममकदवयर कय नयम और पतय/ NAME & ADDRESS OF THE CANDIDATE ARVIND KUMAR FLAT NO-M/202, VAISNODEVI TOWNSHIP, NEAR SUBHASH GARDEN, MORABHAGAL, ADAJAN, SURAT, GUJARAT, PIN - 395009 परककय कननव/ TEST CENTRE व K. J. SOMAIYA INSTITUTE OF COMPREHENSIVE COLLEGE OF EDUCATION TRAINING RESEARCH, (B.ED. COLLEGE)2ND FLOOR, VIDYANAGAR,VIDYAVIHAR(EAST), MUMBAI-400077, MAHARASHTRA महहपबबधक (कहरमरक / भरर) GENERAL MANAGER (PERSONNEL/RECTT) उममकदवयर कय हसतयकर/CANDIDATE 'S SIGNATURE नतनथ/DATE नदनयअक सनहत ननरककक कय हसतयकर INVIGILATOR’S SIGNATURE ALONG WITH DATE उममकइदवयरह क नलए ननदर श INSTRUCTIONS TO THE CANDIDATES व 1. कपयय यह पववश पत और आपकक फफटफ...
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...Staring at the steady stream of traffic on Raj Path from the office window, Mr. Om Prakash was ruminating over the Coal Linkages Committee meeting that concluded a few minutes ago. “There has to be a more scientific approach that leaves no room for maneuvering, bickering and hurt feelings which follow every such meeting” wondered Mr. Om Prakash. India has a total installed generating capacity of 167 thousand megawatts, comprising 109 thousand megawatts in the Thermal sector, 37 thousand in the Hydro Sector, 17 thousand in the Renewable Sources Sector and the remaining in the Nuclear Power Sector. In the Thermal sector, 90 thousand megawatts are coal-fired power plants. The region-wise distribution of the coal fired power plants in terms of installed capacity is 4% in Delhi-Haryana, 5% in Punjab, 5% in Rajasthan, 10% in Uttar Pradesh, 10% in Gujarat, 26% in Maharashtra, 8% in Andhra Pradesh, 4% m Karnataka, 7% in Tamil Nadu, 1% in Bihar, 1% in Orissa, 11% in Jharkhand and 8% in West Bengal. Typical annual coal requirement is 5000 tons per MW of installed capacity. Coal India Ltd. is the country's major supplier of coal. Coal India's major subsidiaries are: • Eastern Coalfields (ECL): These comprise the Raniganj and Barakar Coalfields spread over Burdwan, Birbhum, Bankura and Purulia districts in West Bengal and Dhanbad District in Jharkhand, Saherjuri Coalfield in Deoghar District of Jharkhand and Hura Coalfields in Godda. • Central Coalfields (CCL): These comprise the Barka...
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...Indian Coal Mining Controversy which is also known as Coalgate Scandal. Coal mining controversy is a political controversy highlighting the nation’s irregularities in the matter of handling national coal deposits. Another scam in a history of Indian, Coal mining controversy is major fraud in 2012, which involved Rs 1, 86, 000 Cr losses to exchequer. This is serious allegation against Prime Minister of India Dr Manmohan Singh who is in a serious scrutiny of the CAG which leads to protest against the leading political party NCP and Prime Minister Dr. Manmohan Singh asking for his resignation. Social activist Arvind Kajrewal and IAC(India against corruption) activist marched to the Prime Minister, Congress and Bhartiya Janata party's member's residence in Delhi. The...
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...(Reuters) - Indian coal imports are expected to rise in the financial year through March 2013 as more end-users turn overseas, prompted by a narrowing gap between the domestic and international prices of thermal coal. Excess supply has hammered international thermal coal prices in recent months, with top exporter Indonesia cutting its output forecast to around 360 million tonnes from 390 million to 400 million for 2012. Based on the current global supply and demand picture, end-users expect thermal coal prices to remain well below $100 a tonne for the next 10 to 12 months. "International thermal coal prices have almost hit the bottom," said Vinod K. Singh, adviser to global chemical and textile company GHCL (GHCH.NS), which is also a leading producer of soda ash. Coal of the grade 6,000 kcal/kg on a Net As Received basis now costs $88 to $89 a tonne free-on-board (FOB), for example, Singh said. "We do not expect it to go down any further." India's coal supply is expected to fall short of demand by 192 million tonnes in the fiscal year to March 2013, a coal ministry official said. Coal demand in India, which has the world's fifth-largest coal reserves and produces the most after China and the United States, is seen at around 772 million tonnes against an expected supply of about 580 million in the financial year to March 2013. "More and more consumers are looking at imports from mainly Indonesia and Mozambique to fulfil at least 50 to 60 percent of their thermal coal demand," said...
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...(US) 1 832 326 3854 • (INDIA) + 91 80 227 3130 Email: pari@zinnov.com W H I T E P A P E R W H I T E P A P E R 2 ENERGY: Indian Demand- Supply Gap Table of Contents ENERGY: Indian Demand- Supply Gap ...................................... 1 1.0 Overview ......................................................................... 3 1.1 Drivers and Inhibitors in Energy Sector..................................... 3 1.2 Major Industry Players............................................................ 4 2.0 Demand Supply Scenario .................................................... 4 2.1 Demand................................................................................ 4 2.2 Supply .................................................................................. 5 3.0 Primary Energy Requirements of India ............................... 6 4.0 Regulatory Framework ....................................................... 9 5.0 Conclusion ........................................................................ 10 Disclaimer: ............................................................................. 11 W H I T E P A P E R Overview ENERGY: Indian Demand- Supply Gap 1.0 Overview Energy sector in India is one of the most challenging sectors for global players given the presence of large profit making Public Sector Units (PSU) with strong regulatory back up and market presence. As per Energy Information Administration (EIA) India is the sixth largest energy...
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...of the world are supplied by the drastic use of non-renewable sources of energy, which are mainly the fossil fuels or the nuclear fuels, which are no doubt very good, but will not last for ever, they will end very soon. By fossil fuels I am throwing light on coal, petroleum, natural gas, etc. which on combustion emits harmful gases such as carbon di oxide, carbon mono oxide which are harmful to the environment. Though the Renewable resources of energy which are the Solar Energy i.e. the energy from sun, Wind Energy, as the name suggests the energy from wind or the fast moving air, the Geothermal Energy i.e. the energy from the earth, energy generated from water known as hydro energy, biogas and many more. Which are no doubt very good energy sources and the qualities like everlasting and clean that is negligible pollution makes them the best in the lot. The present generation of energy is more from the non renewable resources which is bad for the nature and for the future also, thus we need to manage the use and organize the usage of both the resources so that they can be saved for the future use and the generation of the energy can be done in more efficient and clean way. 1. INTRODUCTION In recent years, India has emerged as one of the leading destinations for investors from developed countries. This attraction is partially due to the lower cost of manpower and good quality production. The expansion of investments has brought benefits of employment, development,...
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...Aulakh (2015), there is a public struggle between the Indian government and Greenpeace, who see it as a “threat” to national development. Further, a report from an intelligence unit from India showed how a campaigner from Australia working for Greenpeace was denied entry into the country sourcing him as a major threat towards the government. Bhalla (2015) further narrates how the organization faced closure due to foreign funding being blocked for a month and registration suspension for six months. In a statement to the newsrooms, the NDA responded to claims of the closure of Greenpeace foreign account. They claimed that the organization was violating the Foreign Contribution Regulation Act (FCRA) and tax laws (Singh 2015). The stated law scrutinizes NGO’S of ‘political nature’ and bars them from obtaining donations from the international partners (Bhalla 2015). Moreover, in January 2012, the NGO’s senior campaigner Priya Pillai was also stopped from boarding a plane to London. The government cited her as the source of problems it was facing at the time (Business Standard 2015). Needless to note, she was only fighting for the interests of locals in the Mohan region. In her favor, Delhi High Court overruled the government’s decision of blocking her travel to the British parliament. (The times of India 2015). The genesis of this fallout began several years back. According to a standard’s business reporter Sethi (2015), the NDA (National Democratic Alliance) government intended to issue...
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...Energy Security in India Important facts regarding energy generation capacity and the energy mix for India Source | Percentage | Coal | 57 | Hydro | 18.6 | Renewable | 12.25 | Gas | 8.9 | Nuclear | 2.2 | Oil | 0.56 | Sector | Percentage | State | 40 | Central | 29 | Pvt | 29 | 1. Energy is the prime mover of a country’s economic growth. Availability of energy with required quality of supply is not only key to sustainable development, but the commercial energy also have a parallel impact and influence on the quality of service in the fields of education, health and, in fact, even food security. 2. According to a report by IEA (International Energy Agency), India needs to invest a total of 800 billion dollars in various stages by 2030 to meet its energy demand. India accounts to around 2.4% of the annual world energy production, but on the other hand consumes 3.3% of the annual world energy supply. And this imbalance is estimated to surpass Japan and Russia by 2030 placing India into the third position in terms of annual energy consumption. Therefore, after summing up all the energy issues, energy security has been identified as the only tool to overcome the energy concerns. 3. According to Integrated Energy Policy, for a 9% growth over a sustained period, imports of crude oil in 2031-32 may be between 362-520 million tonnes with import dependence of 91%-94%. For natural gas, it may be 25-135 (Mtoe), which means an import dependence of 20%-57%...
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...Energy India: Towards Energy Independence 2030 January 2014 Copyright © 2014, by McKinsey & Company, Inc. India: Towards Energy Independence 2030 January 2014 4 India: Towards Energy Independence 2030 Introduction India is the world’s fourth largest economy1 as well as the fourth largest energy consumer. India imports a substantial portion of its energy — 80 per cent of its oil, 18 per cent of its gas, and now even 23 per cent of its coal. As the Indian economy continues to grow, so will its energy consumption, especially as the growth of its manufacturing sector catches up with services and agriculture. With domestic resource production facing various challenges, the general expectation has been that Indian energy imports will continue to grow, and energy security concerns will intensify. The outlook and options for Indian energy independence therefore becomes an important topic. A 2030 outlook is particularly relevant since it is difficult to significantly change energy policy in 5 or 10 years, but almost any boundary conditions can be changed over a 15-year period. Moreover, there have been few if any, in-depth perspectives on this topic for 2030. This white paper builds off the ‘2030 Global Energy Perspective’, McKinsey’s substantial body of research on energy demand and supply, and our understanding of the evolution of the global and Indian energy sectors. We have tried to address some of the basic questions that arise about Indian energy in 2030: Is India’s...
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...developing countries, the energy sector assumes a critical importance in view of the everincreasing energy needs requiring huge investments to meet them. Energy can be classified into several types based on the following criteria: • • • Primary and Secondary energy Commercial and Non commercial energy Renewable and Non-Renewable energy 1.2 Primary and Secondary Energy Primary energy sources are those that are either found or stored in nature. Common primary energy sources are coal, oil, natural gas, and biomass (such as wood). Other primary energy sources available include nuclear energy from radioactive substances, thermal energy stored in earth’s interior, and potential energy due to earth’s gravity. The major primary and secondary energy sources are shown in Figure 1.1 Primary energy sources are mostly converted in industrial utilities into secondary energy sources; for example coal, oil or gas converted into steam and electricity. Source Extraction Coal Processing Preparation Primary energy Coal Open or Deep Mines Secondary Energy Steam Thermal Purification Hydro Coke Nuclear Mining Enrichment Power Station Electricity Natural gas Gas Well Treatment Natural gas Thermal Petroleum Oil Well Cracking and Refining LPG Petrol...
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...(124) 4253488 +91 (124) 4294239 www.iquestsolution.com Contents CURRENT STATUS – POWER INFRASTRUCTURE IN INDIA . 3 GROWTH EXPECTED ................................................................ ........................................ 3 Generation ................................................................................................ ...................................... 3 Transmission & Distribution ................................................................ ............................................ 4 INVESTMENT EXPECTED ................................................................ 4 ................................ PRESENT POWER GENERA GENERATION MIX .......................................... 5 ................................ Wind Power ................................................................................................ 6 .................................... Hydro Power ................................................................................................ 7 ................................... Nuclear Power................................................................................................ 7 ................................. KEY CONCERNS ................................................................ ................................................... 7 Dependence on Thermal Sources Especially Coal ............................................ 8 ................................ Land Acquisition and Clearance...
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...| | |NAME : RAUNAK ZATAKIA | | | |COURSE : ( BBA / TP / ) | | | |SUPERVISOR : Prof. Tapobrata Ray | | | |TITLE : Telecom Industry Marketing | |DATE : 06.12.2013 | Dissertation submitted in partial fulfilment Of the requirements of the Graduate Degree BACHELOR IN BUSINESS ADMINISTRATION J.D.BIRLA INSTITUE At the JADAVPUR UNIVERSITY KOLKATA The Controller of Examination, Jadavpur University, Kolkata Respected sir, This research work has been conducted by me and is an...
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...Key Challenges facing the coal Sector The critical issues facing the coal sector are highlighted below: • Lack of Investments in Mining In spite of the economic liberalization of 1991 the mining sector has not seen major investments. This is possibly due to the problems such as government policy, land acquisition, development of infrastructure, transportation system, social engineering and community development involved in major green field site projects. There is a need to re-look at the total management solution for attracting investment in new mines. The solution has to lead to the creation of joint venture institutions with central government, state government and private sector as partners. The facilitation for the project through provision of land, infrastructural development, community development etc, can be done by the government agencies whereas the investment in the mine and the associated technological inputs can come from the private sector. In addition, the private sector must have the freedom to run the mine in a cost effective manner. This may be a long term solution for future mines in India and it will have unique opportunities for both the government and private sector to work together for India's development. • Historically, opencast mining has been favored over underground mining. This has led to land degradation, environmental pollution and reduced quality of coal as it tends to get mixed with other matter. • In addition, current economic mining practices...
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