Coal India Ltd - is likely to come out with its Initial Public Offer (IPO) of shares by August this year, a company functionary said.

After meeting SEBI officials in Mumbai, Partha S. Bhattacharyya, Coal India Chairman, stated, "We discussed the tentative timeline with SEBI (Securities and Exchange Board of India) Friday."

Mr. Partha added that the Draft Red Herring Prospectus would be registered by June.

The issue of giving shares to employees was also discussed and settled during the conference.

Previously, the company announced that SEBI has disapproved giving shares to workforce employed in a division.

CIL is a holding company and the majority of its personnel, comprising all its mining employees, are in the payroll of eight arms, which also hold the coal mines.

CIL's initial public offering would comprise divestment of 10% stake of the administration, which now possesses 100% in the coal mining major. (With Input from Agencies)