India’s Coal Minister, Sriprakash Jaiswal has said that due to the politics present in trade unions, the workers have not benefited from the mega initial public offering (IPO) of public sector major Coal India. Coal workers had a golden opportunity to profit from Coal India's over Rs 15,000-crore IPO. But because of politics by trade unions, they failed to benefit from the issue.

Meanwhile he noted that the minister said Coal India's annual turnover was Rs 52,000 crore and its balance sheet is not going to be affected by the Rs 765-crore debt to public sector units.1

• 1. “No benefit for trade union workers in Coal India IPO: Minister”, The Economic Times, December 28, 2010 at http://economictimes.indiatimes.com/markets/ipos/fpos/rights-issues/no-b...