Coal India to launch IPOs of South Eastern Coalfields and Mahanadi Coalfields this fiscal
Chairman B Sairam said both subsidiary IPOs are planned by year-end, with the exact timing dependent on market conditions and government directives.
Coal India has announced plans to launch initial public offerings (IPOs) for its South Eastern Coalfields and Mahanadi Coalfields subsidiaries within the current financial year. The exact timing of these IPOs will depend on market conditions and government directives. These two coal-producing subsidiaries are among the largest in terms of output and among the seven coal-producing entities of Coal India Limited (CIL).
Speaking at the company's annual general meeting, CIL Chairman and Managing Director B Sairam confirmed the board's approval for the listing of these entities. The Department of Investment and Public Asset Management (DIPAM) had previously approved the listing of Mahanadi Coalfields through a combination of fresh equity issuance and disinvestment by CIL.
In the previous fiscal year, two other CIL subsidiaries, Bharat Coking Coal (BCCL) and Central Mine Planning & Design Institute (CMPDI), successfully debuted on the market. Sairam highlighted that these IPOs represent an important step towards unlocking value from CIL's subsidiaries, expanding their access to the capital markets, and enhancing Coal India's status as a diversified listed public sector enterprise.
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