Coal India to pay ₹2,154 crore in Performance Linked Reward for FY25 workers

State-owned Coal India Ltd (CIL) on Friday (September 26) said the 6th Standardisation Committee of JBCCI-XI has approved the Performance Linked Reward (PLR) for the financial year 2024-25 for workers of the company and its subsidiaries.

Workers will receive ₹1,03,000 each on a pro-rata basis of attendance for FY25. The payout will benefit an average of 2,09,000 workers across CIL and its subsidiaries. The total financial implication for Coal India arising out of this payment is ₹2,153.82 crore.

This week, Coal India arm Bharat Coking Coal Ltd had secured Sebi's approval to launch its initial public offering (IPO). BCCL approached Sebi with its draft papers in June this year.

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BCCL's issue will be entirely an offer for sale of 46.5 crore shares by its parent state-owned Coal India Ltd (CIL), with no fresh issuance component. In regulatory terms, Sebi's observations are equivalent to clearance for launching a public issue.

Established to mine and supply high-grade coking coal, BCCL plays a critical role in powering India's steel sector, which depends heavily on its output.



Shares of Coal India Ltd ended at ₹389.20, down by ₹3.30, or 0.84%, on the BSE.

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