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from BUSINESS LINE, October 27, 2008 New Delhi, Oct. 26 - Sending a clear signal that the Government wants fundamentally strong public sector undertakings to be publicly traded companies, Coal India Ltd (CIL) was conferred Navratna status on Thursday, with a condition that the company will have to get itself listed within three years.
This condition has been laid down by the apex committee headed by the Cabinet Secretary, which grants final approval for Navratna status of a company.
Sources pointed out that this is not disinvestment because the Government will not sell any stake, but the company would issue fresh shares through an initial public offering. …