CRISIL has assigned a CRISIL IPO Grade “5/5” (pronounced “five on five”) to the proposed initial public offer (IPO) of Coal India Ltd. This grade reflects Coal India’s dominant position with 81 per cent market share in the Indian coal industry, catering to 53 per cent of the country’s energy requirement. The demand for coal is expected to increase at an annual rate of 11.2 per cent over the next four years due to increase in thermal power plants being set up. Coal India also enjoys cost competitive advantage over international players since nearly 90 per cent of its production is from open cast mines and has low stripping ratios.