Study and Valuation of Coal India IPO valuation as an Investment Banker

1. Our People Vision – “Creating Value, Wealth and Partnerships for our Customers.” Value with Wealth BCD

3. BCD - Business BCD Investment Banking Consultancy Equity Market Wealth Management Retirement Benefits Public & Private Equity Placement Debt Mobilisation Business Infrastructure Fundamental & Technical Analysis Institutional Broking PMS for HNI’s & Corporate Clients Advisory & Consultancy Intermediates

5. Production In FY10, it produced 431 Mn tonnes of coal, which accounted for 81% of the coal production in India Source: Company

6. IPO Process

7. IPO Timeline Weeks 1 2 3 4 5 6 7 8 9 10 11 12 13 Due Diligence Drafting of DRHP Resolve structural & legal issues Develop Positioning, Research Briefing & presentation, research report Review & Circular Research Reports File DRHP with SEBI and Stock Excanges SEBI Review Period and obtain Stock Exchange Approval & IPO Grading Pre-Marketing Receive and Comply with SEBI Comments Filing of RHP with RoC Print Red Herring and Announce Floor Price Institutional and retail road shows Bidding Pricing & institutional Allocation Non- Institutional and Retail Allocation Listing & Trading proposals

14. Industry Overview Scrip Code Company name BSE group Market Cap (Rs. Cr.) Revenue (Rs. Cr.) PAT (Rs.cr.) Industry P/S PER 500900 STERLITE INDUSTRIES (INDIA) LTD. A / SENSEX 58,795 13,124.50 831.5 Mining 4.47979 70.7096 526371 NMDC LTD. A / BSE100 106,849 6,239.09 3,447.26 Mining 17.1257 30.9953 500295 SESA GOA LTD. A / BSE100 28,679 4,660.33 2,118.09 Iron & Steel/Interm.Products 6.15386 13.54 512579 GUJARAT NRE COKE LTD. A / BSE200 3,080 1,401.86 51.87 Coal 2.19708 59.3792 532181 Gujarat Mineral Development Corporation Ltd A / BSE200 4,285 1,065.22 279.87 Mining 4.02264 15.3107 533017 RESURGERE MINES & MINERALS INDIA LTD. B 439 528.88 27.5 Mining 0.83006 15.9636 500184 HIMADRI CHEMICALS & INDUSTRIES LTD. B / BSE500 1,849 505.93 107.34 Coal 3.65466 17.2256 527001 Ashapura Minechem Ltd B / BSE500 415 503.06 9.74 Mining 0.82495 42.6078 512369 ENNORE COKE LTD. B 162 386.92 9.24 Coal 0.41869 17.5325 504918 SANDUR MANGANESE & IRON ORES LTD. B 539 287.87 29.17 Mining 1.87237 18.4779 533016 AUSTRAL COKE & PROJECTS LTD. B 161 282.46 -4.71 Coal 0.56999 -34.183 532759 ATLANTA LTD. B 700 197.97 41.25 Construction & Engineering 3.53589 16.9697 533022 20 MICRONS LTD. B 83 176.95 7.3 Mining 0.46906 11.3699 531336 AUROMA COKE LTD. T 7 52.2 0.43 Coal 0.1341 16.2791 526662 Rajdarshan Industries Ltd T 4 2.15 0.19 Mining 1.86047 21.0526 512068 DECCAN GOLD MINES LTD. B 139 0.06 -0.59 Mining 2316.67 -235.59 513579 FOUNDRY FUEL PRODUCTS LTD. B 8 0 -0.28 Coal -28.571 512289 SHIRPUR GOLD REFINERY LTD. T 319 0 -15.58 Mining -20.475