Adani Enterprises signs coal mining pact with NLC India

NEW DELHI: Adani Enterprises on Monday said it has signed a coal mining agreement with NLC India Ltd for development and operation of Talabira II and III coal block.

In a filing to BSE, it said its subsidiary, Talabira (Odisha) Mining Pvt Ltd (TOMPL), "has signed coal mining agreement (CMA) with NLC India Ltd alongwith the company for development and operation of Talabira II and III coal block...".

TOMPL has become a successful bidder for mine developer and operator (MDO) tender of Talabira II and III coal block issues by NLC India Ltd, it said.

"The project is expected to generate a revenue of Rs 12,200 crore. The block is located in IB valley coalfields in Sambalpur and Jharsuguda in Odisha and the mine capacity shall be of 20 million tonne per annum (MTPA) with total minable reserve of about 554 MT," Adani Enterprises said.

The coal ministry has allocated the block to NLC India for development, mining and captive consumption of the dry fuel from the blocks in its various end use power plants.

NLC had floated a tender for selection of MDO for development and operation of the two Talabira blocks in November 2017 and reverse auction was conducted in January, wherein TOMPL became the successful bidder. NEW DELHI: The initial share sale of ICICI Securities has received 88 per cent subscription, including the portion set apart for anchor investors, on the last day on Monday.

The offer attracted subscriptions of nearly 78 per cent, excluding the anchor portion, till 1945 hours, as per data available with the NSE.

The IPO of the brokerage firm, part of ICICI group, received bids for 3,46,75,396 shares against the total issue size of 4,42,25,343 shares (without anchor portion), data available with the National Stock Exchange till 1945 hrs showed.