SECL IPO News, Coal India Plans To Sell 66.81 Crore Shares As Subsidiary Files Draft Papers With SEBI

Mumbai: South Eastern Coalfields Ltd (SECL), a subsidiary of Coal India Ltd, has submitted draft paperwork to the Securities and Exchange Board of India (SEBI) to facilitate its initial public offering (IPO). As per the Draft Red Herring Prospectus (DRHP) dated November 1, the public offering could involve the sale of up to 66.81 crore equity shares by Coal India.

Key IPO details, including the price range, the number of shares issued, and the subscription dates, have yet to be disclosed. The proceeds from the IPO will not be utilized by SECL, as the entire amount will be directed towards its promoter, Coal India. Indian Coal Exchange Ltd, a subsidiary of Coal India, has applied for a license to conduct the IPO through the Coal Controller Organisation.

Established in 1985, SECL is one of India's leading coal producers, situated in Bilaspur. In the fiscal year 2026, the company extracted 176.29 million tonnes of coal, accounting for 16.94% of India's total coal output, marking a 5.25% increase compared to the previous year. SECL contributed 22.95% to Coal India's overall production, ranking as the second-largest coal-producing subsidiary within the group.

For the half-year period ending September 2026, SECL reported revenue from operations of ₹16,593.7 crore, an increase from ₹15,090.2 crore in the same period the previous year. Net profit also grew to ₹2,174.3 crore from ₹1,140.9 crore. The company's FY26 revenue amounted to ₹32,956.5 crore, with net profit reaching ₹4,754.5 crore.

As of September 30, SECL managed 53 producing mines, comprising 19 opencast and 34 underground mines. Notable mines such as Gevra and Kusmunda in Chhattisgarh, renowned as some of the world's largest coal mines, fall under SECL's operations. The company holds audited coal reserves of 4.61 billion tonnes. SECL is among several Coal India subsidiaries pursuing stock market listings, following Mahanadi Coalfields, which filed its IPO papers in September, and Bharat Coking Coal, which launched its public offering earlier in the year.