A clearer picture on the roadmap for Coal India public offer will emerge after

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the officials of CIL, Coal Ministry and Department of Disinvestment meet with the market regulator Sebi on February 19.

"We are meeting Sebi on February 19 and then a clearer picture on the timing will emerge though our internal target is to complete the IPO by this calender year," CIL chairman and managing director Partha S Bhattacharyya said here today.

Bhattacharyya, speaking on the sidelines of the Indian Chamber of Commerce-organised Third Northeast and East Power Summit 2010 here today, also said there are some issues on offering shares to employees and land-losers of areas it acquired for mining.

"The offer to employees will be resolved soon," he said, adding the issue of land-losers is yet to be resolved. However, he expressed the hope that it will not disturb the IPO process. This means that the land-losers may not get any preferential allotment in the first round of IPO.

On CIL proposing to reserve only 1 per cent of the share for its four lakh employees in seven subsidiaries as employees share purchase scheme against the earlier proposal of 2 per cent, Bhattacharyya said, "the government will offer 10 per cent to the public; any offering to employees or land-losers will be above that."

This gives a strong hint that the proposed IPO will be of 11 per cent instead of the earlier plan of 15 per cent (10 per cent public, 2 per cent employees and 3 per cent land losers).