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IT IS THE very definition of a big industrial group: the headcount of a decent-sized western city, an affiliation of nine companies, covering 471 separate coal mines. It faces 4,000 different lawsuits, powerful unions and the threat of Maoist rebels around many of its mines. Yet when the books closed on October 21, Coal India became the largest IPO in India’s history: a $3.46 billion deal that shot up 40% on its first day of trading and attracted $52.5
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