{
  "id": 5034012,
  "title": "Coal India Shares Rise 4% After Mahanadi Coalfields IPO Plan",
  "url": "https://urgent.news/2026/09/02/coal-india-shares-rise-4-after-mahanadi-coalfields-ipo-plan",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-02T06:09:54.000Z",
  "source": {
    "name": "Free Press Journal",
    "slug": "free-press-journal",
    "url": "https://www.freepressjournal.in/business/coal-india-shares-rise-4-after-mahanadi-coalfields-ipo-plan"
  },
  "original_language": "en",
  "account": "Coal India shares surged nearly 4% on Wednesday, reaching around ₹420 and boosting the company's market capitalisation to nearly ₹2.6 lakh crore. This rise occurred despite a broader market decline, as the stock filed draft documents for the initial public offering (IPO) of its subsidiary, Mahanadi Coalfields.\n\nThe plan is to sell up to 10% of Mahanadi Coalfields through an offer for sale, involving around 66.18 crore shares. It's important to note that this IPO will not provide Mahanadi Coalfields with any new capital, as it is an offer for sale (OFS).\n\nMahanadi Coalfields, one of Coal India's largest subsidiaries, has played a significant role in India's coal production, contributing nearly 21% of the country's coal output and accounting for over 28% of Coal India's output in the fiscal year 2026. The subsidiary reported a net profit of ₹10,678 crore in the year ended March 2026, with revenue reaching ₹30,550 crore.\n\nBrokerages have expressed confidence in Coal India's prospects, citing strong coal demand, lower inventories, and improved auction pricing. UBS maintained a 'Buy' rating for the stock, setting a target price of ₹550 per share, highlighting increased coal offtake and declining stockpiles. HSBC also remained optimistic, citing strong electricity demand, weak hydro power generation, and three-year-low coal inventories.\n\nThe positive outlook for Coal India was further supported by its August e-auctions, where the company allocated 82.76 lakh tonnes of coal at a premium of 59% over notified prices. Despite the Sensex and Nifty experiencing sharp declines, Coal India's stock gains reflected investor confidence in the company's operational performance and growth potential.",
  "summary": "Coal India shares emerged as a top performer on the Nifty 50 on Wednesday, rising nearly 4% despite a broader market decline. The stock touched around ₹420, lifting the state-owned coal producer’s market capitalisation close to ₹2.6 lakh crore. The rally followed Coal India’s filing of draft documents for the initial public offering of its subsidiary Mahanadi Coalfields. The company plans to sell…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}