formed in 1957, was merged with CMAL, and 45% share-holding of Central Government in Singareni Collieries Company Ltd was also handed over to CMAL. CMAL started functioning with its 4 divisions, viz, Eastern Coalfields, Central Coalfields, Western Coalfields, and Central Mine Planning and Design Institute. By 1973, all coking coalmines were under BCCL, which was functioning as a subsidiary of Steel Authority of India (SAIL) under Department of Steel of the Ministry of Steel and Mines; and all non-coking coalmines were under CMAL, which was under Department of Mines of the Ministry of Steel and Mines. For better control, both BCCL and CMAL were brought on 11 October 1974 under the Department of Coal (now an independent Ministry) of the newly formed Ministry of Energy. On 1 November 1975, a new public-sector company Coal India Limited (CIL) was formed to enable better organizational and operational efficiency in coal sector. All the 4 Divisions of CMAL were given the company status, and were brought under CIL along with BCCL. 45% share-holding of the CMAL in Singareni Collieries Company was also transferred to CIL, and CMAL was closed. Thus, CIL started functioning in 1975 with 5 subsidiary companies under it. These were Bharat Coking Coal Limited (BCCL), Eastern Coalfields Limited (ECL), Central Coalfields Limited (CCL), Western Coalfields Limited (WCL), and Central Mine Planning & Design Institute Limited (CMPDIL). In due course of time, 3 more companies were formed under CIL by carving out certain areas of CCL and WCL. These were Northern Coalfields Limited (NCL), South-Eastern Coalfields Limited (SECL), and Mahanadi Coalfields Limited (MCL). Pursuant to the Fuel Policy of 1974, CIL also started the construction of India's First Low Temperature Carbonisation Plant at Dankuni in the late 1970s. It was renamed as Dankuni Coal Complex, and is one of the only operational Coal gas plant of this kind in the world. Dankuni Coal Complex has been incurring heavy loss due to the Greater Calcutta Gas Supply Company (formerly known as Oriental Gas Co.) giving non-remunerative price and fixing them unilaterally. Coal India is planning to venture into Coal-to-Methanol technology at the existing Plant. The Government of India held 100% equity of CIL from 1975 till 2010. Initial public offering In October 2010, the Government of India made an initial public offering (IPO) of 10% of the equity shares of CIL (631.6 million equity shares) to public at an offer price of