Mahanadi Coalfields IPO, Coal India Plans ₹9,500 Crore Share Sale Through 10% Stake Dilution
Mumbai: State-owned Coal India Limited is preparing to bring its subsidiary Mahanadi Coalfields Limited (MCL) to the stock market through an initial public offering (IPO) estimated at ₹9,500 crore. The company has taken a significant step towards the proposed listing by filing its Red Herring Prospectus (RHP) with the relevant regulatory authorities. According to a stock exchange disclosure, the…
State-owned Coal India Limited is preparing to launch an IPO for its subsidiary Mahanadi Coalfields Limited, projected to generate approximately ₹9,500 crore. The company has filed the necessary paperwork with regulatory bodies, including the Registrar of Companies, Securities and Exchange Board of India, Bombay Stock Exchange, and National Stock Exchange.
The IPO entails Coal India selling up to 66.18 crore equity shares of Mahanadi Coalfields, without receiving any proceeds from the transaction. Instead, the funds will go to Coal India as the parent company of Mahanadi Coalfields. The proposed offering represents a 10% stake dilution for the mining giant.
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