Lost Opportunity

The mega issue of Coal India Ltd has come to an end. The mammoth 15k crore issue was the biggest dis-investment exercise. The employees of CIL were a section of the population, to whom some benefits were due.  That a 1% of issue was reserved for the employees was a welcome relief. But alas ! The unions had a different opinion. There was a very strong campaign by the union against investment by employees. And it looks like most of the employees have given the opportunity a skip. Going by the look of it, the shares would be listed at atleast a 10% premium. So the workers have chosen not to accept a 15 crore bonanza that was handed out to them on a platter.

It is a sad state of affairs where the distorted views of a powerful group prevents the little benefits from reaching the needy.  Even by the lofty leftist standards, since the unions could not prevent sale of the company, it hardly made sense in stooping to abysmal levels and stopping the employees from subscribing to their rightful shares. The unsubscribed portion of this 1% will be allotted to the very elite class against whom the unions are up against.

Whether investing in shares is right or wrong, is a totally different matter, but the least that can be expected in the world's largest democracy  is to take one's own decisions. Else it becomes demo (of) crazy.